Wipro net profit up 19 percent in second quarter

Wipro Ltd posted a net profit of Rs 11.62 billion for the second quarter (July-September) of this fiscal (2009-10), registering 19 percent year-on-year (YoY) growth, as per the Indian accounting standard.

In a regulatory filing, the IT bellwether Tuesday declared that revenue for the quarter under review (Q2) was Rs.69.17 billion, a modest increase of six percent YoY, as per the Indian accounting standard.

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According to the International Financial Regulatory Standard (IFRS), the company's net income at $243 million increased by 21 percent YoY, while total revenue increased by six percent YoY to $1.44 billion.

Revenue from IT services, however, declined by four percent YoY to $1.06 billion during the quarter though it was sequentially higher by 3.2 percent.

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