Wipro net up 11 percent in Q1

Bangalore, July 26 (IANS) Wipro Ltd posted net profit of Rs.1,623 crore (Rs.16 billion) for first quarter (April-June) of fiscal 2013-14, registering 11 percent growth year-on-year (YoY) as per the Indian accounting standard.

In a regulatory filing to the stock exchanges Friday, the IT bellwether said its total revenue for the quarter (Q1) under review grew five percent YoY to Rs.9,735 crore (Rs.97.4 billion).

Under the International Financial Reporting Standard (IFRS), net income increased to $273 million and total revenue to $1.64 billion.

Revenue from the global software major's IT services business at $1.59 billion is 4.9 percent higher YoY but 0.2 percent lower sequentially from previous quarter.

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