Wipro announced a sharp rise in standalone net profit for the quarter ended June 2014. During the quarter, the profit of the company rose 54.50% to Rs 20,672.00 million from Rs 13,380.00 million in the same quarter last year.
Net sales for the quarter rose 15.05% to Rs 101,041.00 million, compared with Rs 87,823 million for the prior year period.
Earnings per share for the quarter stood at Rs 8.40, registering 54.41% growth over previous year period.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Jun - 14 | Jun - 13 | %Change |
| Net Sales | 101,041.00 | 87,823.00 | 15.05 |
| Net Profit | 20,672.00 | 13,380.00 | 54.50 |
| Basic EPS | 8.40 | 5.44 | 54.41 |
Azim Premji, chairman of Wipro, said, 'We see a significant rise in business confidence in developed markets as well as India. The new government at the Centre has brought about hope and confidence in the minds of all stakeholders through reform pronouncements with fiscal prudence. We expect greater economic activity including investments in India.'
T K Kurien, executive director & chief executive officer of Wipro, said, 'We continue to win large deals particularly in the application and infrastructure space. We recently announced our largest ever total outsourcing deal. These wins demonstrate confidence of clients in our transformational capabilities and re-affirm our faith in our client engagement strategy.'
Shares of the company gained Rs 7.45, or 1.31%, to settle at Rs 576.80. The total volume of shares traded was 237,734 at the BSE (Thursday).
