On a consolidated basis, Wipros net income rose 12% to Rs 1456 crore on 10% rise in net sales to Rs 9997.20 crore in Q3 December 2011 over Q2 September 2011. Wipro declared an interim dividend of Rs 2 per share.
Azim Premji, Chairman of Wipro, commenting on the results said, We continue to execute on our strategy and propel the business towards a higher growth trajectory. The overall macroeconomic sentiments continue to be uncertain and we are monitoring it closely.
Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said, Our client mining strategy continues to show progress with 6 customers contributing more than $100 million of revenues. We have improved operating margins through improved revenue productivity and currency benefits.
T K Kurien, Executive Director & Chief Executive Officer, IT Business, said, We saw broad based growth with 5 of the 6 verticals growing upwards of 4% in constant currency. Revenues in constant currency exceeded the guidance range. We have seen positive feedback from customers and employees on our restructuring approach.
Wipro expect revenues from its IT services business to be in the range of $1,520 million to $1,550 million, a sequential growth of 1% to 3%.
Reliance Industries, ITC and Axis Bank are some of the prominent result announcements today, 20 January 2012.
Tata Metaliks, United Spirits, Exide Industries, Hindustan Construction Company, Hindustan Zinc, HT Media, Jet Airways (India), JSW Steel, Mahindra Forgings, NIIT, Praj Industries, Rallis India, Aptech, Bank of Maharashtra, Bharat Bijlee, Sabero Organics Gujarat, Shalimar Paints, Syndicate Bank, Wendt (India) and Wire & Wireless India, among others, will declare their October-December 2011 quarter results today, 20 January 2012.
The National Stock Exchange (NSE) said it would include Tata Coffee in its futures and options segment from 27 January 2012.
ONGC and Cairn India have commenced production from the Bhagyam fields in Rajasthan. Bhagyam is the second largest of 25 discoveries made so far by Cairn in the Barmer Basin. The Bhagyam reservoir and facilities will entail a gradual and safe ramp up to reach the currently approved plateau rate of 40,000 barrels of oil per day (bopd). The commissioning of Bhagyam is a key milestone towards achieving the target production rate of 175,000 bopd by the fiscal year ending March 2012. The Mangala, Bhagyam and Aishwariya (MBA) fields have gross recoverable oil reserves and resources of approximately one billion barrels. The Rajasthan ioint venture will contribute more than 20% of current domestic crude production when they reach the currently approved plateau rate of 175,000 bopd.
KNR Constructions said its 60:40 joint venture with Sri Lakshmi Metal Industries has won an order worth Rs 206.69 crore from the Government of Andhra Pradesh. The contract is for construction of major bridge across river Godavari. The project is to be completed within a period of 36 months from the appointed date.
On a consolidated basis, Bajaj Holdings & Investments net profit fell 28.8% to Rs 356.73 crore on 25.5% decline in total income to Rs 387.45 crore in Q3 December 2011 over Q3 December 2010.
SKS Microfinance reported net loss of Rs 427.79 crore in Q3 December 2011 as against net profit of Rs 34.15 crore in Q3 December 2010. Operating income declined 75.4% to Rs 90.71 crore in Q3 December 2011 over Q3 December 2010.
IFCI net profit declined 25.42% to Rs 114.05 crore on 3.6% rise in operating income to Rs 680.44 crore in Q3 December 2011 over Q3 December 2010.
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