IT major Wipro Ltd saw an 18 per cent increase in net profit to Rs 1,508 crore in the first quarter of 2012-2013, compared with the previous year.

In line with their guidance, the company posted a revenue of Rs 10,653 crore, an increase of 24 per cent from the previous year.

“In today’s complex business environment, global corporations are increasingly investing in transformational technology initiatives to improve competitiveness. We see this shift as an opportunity for us to lead this change and help customers differentiate in this fast evolving market,” Mr Azim Premji, Chairman of Wipro, said in a press statement.

IT services

IT services revenue, contributing about 78 per cent of the total revenue, were Rs 8,31,400 crore, an increase of 30 per cent from the previous year. Operating income to revenue for IT Services stood at 21 per cent.

“We have delivered revenues in line with our guidance in a volatile environment. We will continue to build differentiation and invest in technology driven business transformations for our customers as well as rewarding our talent,” Mr T.K. Kurien, Executive Director & Chief Executive Officer, IT Business, said.

For the next quarter, “we expect revenues from our IT services business to be in the range of $1,520 million to $1,550 million,” the company said in a statement.

Employee strength

The IT services segment had 1,38,552 employees as of June 30, 2012, an increase of 2,632 people, and also added 37 new customers during the quarter, according to the statement.

“We have seen high levels of volatility in currencies globally. We have improved profitability, while continuing to invest for growth,” Mr Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro said.

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