IT major Wipro on Friday reported a 10.43 per cent growth in net profit to Rs 1,456.4 crore for the three months ended 31st December, 2011, on the back of increased price realisation, leading it to offer an upbeat revenue guidance for Q4, FY'12. "Wipro's guidance for IT services for 4Q, FY'12, of 1-3 per cent q-o-q growth came in as a positive surprise and looks better as compared to one of its peers -- Infosys," Angel Broking Research Analyst-IT Ankita Somani said. The company had registered a net profit of Rs 1,318.8 crore in the corresponding quarter of the previous fiscal, Wipro said in a filing to the BSE.
Looking ahead to the fourth quarter, the company expects revenues from the IT services business to be in the range of USD 1,520 million to USD 1,550 million, a sequential growth of 1 per cent to 3 per cent. "Wipro reported largely in-line results, with a positive surprise being an increase in price realisation by 2-3 per cent q-o-q. The company's performance has been improving since the last two quarters and organisation restructuring is yielding fruits. With this kind of show, it is expected to catch up with industry peers in growth rates in the next couple of quarters," Somani added. Net income from sales rose to Rs 9,997.2 crore in the December quarter from Rs 7,829.3 crore in Q3, FY'11, it said. "We continue to execute on our strategy and propel the business toward a higher growth trajectory. The overall macroeconomic sentiments continue to be uncertain and we are monitoring it closely," Wipro Chairman Azim Premji said.
Looking ahead to the fourth quarter, the company expects revenues from the IT services business to be in the range of USD 1,520 million to USD 1,550 million, a sequential growth of 1 per cent to 3 per cent. "Wipro reported largely in-line results, with a positive surprise being an increase in price realisation by 2-3 per cent q-o-q. The company's performance has been improving since the last two quarters and organisation restructuring is yielding fruits. With this kind of show, it is expected to catch up with industry peers in growth rates in the next couple of quarters," Somani added. Net income from sales rose to Rs 9,997.2 crore in the December quarter from Rs 7,829.3 crore in Q3, FY'11, it said. "We continue to execute on our strategy and propel the business toward a higher growth trajectory. The overall macroeconomic sentiments continue to be uncertain and we are monitoring it closely," Wipro Chairman Azim Premji said.
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