Wipros net profit down by 1.6 percent
Posted on: 21/Apr/2016 3:51:37 PM - No. of views : (1442)
India`s 3rd Largest IT Sector company Wipro reported a reduction in the net profit for the quarter (Jan to March) by 1.6 percent and was Rs. 2235 Crores.
As compared to this, the corresponding figure for the last year quarter was Rs. 2272 Crores.
However, the net earnings of the company have gone up by 12.9 percent and was Rs. 13741 Crores.The last year`s corresponding figure was Rs. 12171 Crores.
For the entire financial year so far, the net profit is up by 2.7 percent and is Rs. 8892 Crores. Net earnings also rose by 9.1 percent and is Rs. 51630 Crores.
The Board of Directors has approved the proposal to buy back 4 Crore shares of the company. This is valued at Rs. 2500 Crores.As on 31st March, there are 172912 employees in WIPRO.The company has added another 119 customers in the last quarter.
Wipro`s CEO Mr. Abeed Ali Neemuchwala informed that the company has set a target of earnings of 1500 Crores US Dollars by the year 2020.
