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Wipro’s Q4 profit up by 8%

On a surprising note, even though Wipro reported an increase in their profit by 8% in Q4, India’s largest outsourcer’s stocks fell by over 7%! Share price ended at Rs. 410.15, the lowest for IT giant in eight months.

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Wipro

Company’s CEO mentioned that IT sector’s Q1 revenue is expected to be about $1.52-1.55 billion with $1.54 billion during same time last fiscal. Also, the company is expecting to slow down in Indian operations by June, he added.

Net profit of Wipro grew 7.7% to Rs. 1480.9 crore for Q4 which ended on March 31 st 2012; revenues dropped by 1.6%. Considering a total year scenario, total revenues of the company rose by 19% and net profit increased by 8%.

If you are employee of Wipro, here is some news for you! Company announced that it will be hiking salaries starting from June. Company declared a dividend of Rs. 4 per share making it Rs. 6 per share for the year. Wipro hired 13,535 employees this year taking the total count to 1.36 lakh employees!

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