Mumbai: Wipro Ltd on Friday announced a consolidated net profit of Rs 3,282.9 crore for the year ended March 31, 2008, a 11.57 per cent increase over last year.
‘‘We look at fiscal 2009 with cautious optimism. Market situation is changing rapidly which has a bearing on our immediate business dynamics. However, we remain agile and we are confident of another good year. We are bullish on our Middle East business and this will further change our growth as compared to our competitors,'' says Azim Premji.
The company had a consolidated net profit of Rs 2,942.3 crore for the year ended March 31, 2007, Wipro said in a filing to the Bombay Stock Exchange.
The consolidated total income increased to Rs 20,397 crore for the year ended March 31, 2008 from Rs 15,271.4 crore in the year-ago period.
The group posted a net profit of Rs 880 crore for the fourth quarter ended March 31, as compared to Rs 856.1 crore for the same quarter last year.
Total income for the said quarter also rose to Rs 5,777.2 crore from Rs 4,395.9 crore in the corresponding period last year.
Wipro declared a final dividend of Rs 4 per equity share on shares of Rs 2 each (200 per cent).
On a standalone basis, the company reported a net profit of Rs 827.3 crore for the quarter ended March 31, 2008 as against Rs 818.4 crore in the previous year.
Total income increased to Rs 5,368.1 crore for the quarter from Rs 3,874.4 crore in the corresponding quarter last year.
For the year ended March 31, on a standalone basis the company reported a net profit of Rs 3,063.3 crore and a total income of Rs 17,819.5 crore.
"We would expect more of the growth back-ended, and the deal pipeline looks good. But since the decision-making could get delayed, given the uncertain situation, we think most of the fructification would happen after 3-6 months, and therefore the growth will be more back-ended," says Wipro’s Chief Financial Officer, Suresh Senapaty.
With Reuters inputs
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