Wipro Ltd has announced the following Audited results for the quarter ended December 31, 2008: The Company has posted a net profit of Rs 7330 million for the quarter ended December 31, 2008 where as the same was at Rs 8041 million for the quarter ended December 31, 2007. Total Income is Rs 55342 million for the quarter ended December 31, 2008 where as the same was at Rs 44296 million for the quarter ended December 31, 2007.
Wipro’s Q3 FY09 consolidated net profit stood at Rs 1,003.9 crore as against Rs 969.8 crore quarter-on-quarter. So not a bad result and more or less an expected result was given by the company today. The stock is, however, down about 3% ans is trading at price of 220.
Commenting on the company’s numbers, the management said the Wipro has provisioned for losses from Nortel and hence margins were negatively impacted. There was a sequential growth in all verticals in constant currency. "Q3 price realisations are up 1% in constant currency terms."
Reference taken from www.moneycontrol.com
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