Indian IT services vendor Wipro has reported a 21% increase in net income to INR 11.7bn ($243m) for the second quarter 2010, compared to a net income of INR 8.22bn ($167m) in the same quarter last year. Revenue was up 6% at INR 69.2bn ($1.44bn). Skip related content
Operating income grew 24% to INR 14bn ($291m), while diluted EPS grew 20% to INR 7.97 ($0.17).
The company said IT services revenue rose 5% to INR 50bn ($1.04bn), while product revenue grew 19% at INR 11.85bn ($247m). Consumer care and lighting revenue grew 15% to INR 5.6bn ($116m), and revenue from others fell 35% to INR 1.8bn ($37m).
During the quarter, Wipro Infotech, the India and Middle East IT arm of Wipro, partnered with IBM, Microsoft, SAS, Sun Microsystems, and Teradata to establish its Technology Innovation Hub, Sangam in Bengaluru, India. The company also opened a facility in the US to offer consulting and customer-management skills training for its front-line employees.
The company also announced the appointment of Ralf Reich as the head of its German operations, and Martha Bejar as president of its global sales and operations.
For the first half, net income increased 16% to INR 21.9bn ($456m), compared to INR 19bn in the same quarter last year, on revenue up 6% at INR 133bn ($2.8bn).
Wipro chairman, Azim Premji, said: "We are seeing more stability in volumes and pricing as well as an improving demand environment. Our portfolio of services and strong delivery position us as a strong choice for customers as they focus on capital conservation and cost transformation."
For the third quarter 2010 the company expects IT services business revenue between $1.09bn and $1.11bn.
