Wipro net profit up 18 percent, but Q4 guidance lowered

January 20th, 2009 BANGALORE - Wipro Ltd has posted a net profit of Rs.10.04 billion (Rs.1,004 crore/$204 million) for the third quarter (October-December) of this fiscal (2008-09), registering 18 percent year-on-year (YoY) growth under the Indian accounting system. In regulatory filing Wednesday, the IT bellwether said its consolidated revenues for the quarter under review (Q3) was Rs.66.18 billion (Rs.6,618 crore), posting 25 percent YoY growth.

June 3rd, 2009 MUMBAI - Software giant Wipro's revenues will not be affected because of the bankruptcy of Detroit-based customer General Motors Corp, the Indian IT bellwether said in a regulatory filing Wednesday. "General Motors accounts for less than 1 percent of Wipro's IT services segment revenue, and our assessment is that a substantial portion is expected to continue," the company statement read.

January 12th, 2009 BANGALORE - Further depreciation of the Indian rupee during the third quarter (October-December) has forced Infosys Technologies Ltd. to marginally revise upwards its revenue guidance for this fiscal (2008-09) under the Indian accounting system and downwards under the new international financial reporting standards (IFRS).

January 18th, 2009 BANGALORE - Hit by a massive forex loss due to a weakening rupee, global IT services firm MindTree Ltd. Monday reported a lower consolidated net profit of Rs.103 million (Rs.10.3 crore) for the third quarter (October-December) of this fiscal (2008-09), posting a negative growth of 48 percent year-on-year.

January 20th, 2009 BANGALORE - Wipro Ltd Wednesday projected $1.05 billion (Rs.51.73 billion) revenue from its global IT services for the fourth quarter (January-March) of this fiscal (2008-09). In regulatory filing to the stock exchanges, the IT bellwether said the outlook for this quarter (Q4) was based on revenue from its IT services in the third quarter (October-December) of this fiscal at $1.13 billion under the American accounting system (US GAAP).

August 3rd, 2009 Openwave down 10 percent on analyst downgradeNEW YORK — Shares of mobile technology software maker Openwave Systems Inc. fell more than 10 percent Monday after an analyst downgraded the shares on disappointing earnings results and an unclear turnaround plan.

August 19th, 2009 Longtop Financial's 1Q profit jumps 38 percentChinese financial software developer Longtop Financial Technologies Ltd. said Tuesday its fiscal first-quarter profit rose nearly 38 percent on growing demand across its customer base, and boosted its revenue and profit expectations for the full fiscal year.

June 13th, 2009 NEW DELHI - Wipro chief Azim Premji has asked the Indian IT industry to get ready to face the global competition, and not fall into a mind trap of 'India Advantage'. "We have talked a lot about India advantage.

May 6th, 2009 BANGALORE - Wipro Technologies has bagged an outsourcing contract for an undisclosed amount from telecom company Unitech Wireless, the IT firm said Wednesday. Unitech Wireless, which received licence last year to operate in 22 telecom circles in the country, is yet to launch its services.

April 28th, 2009 HYDERABAD - Despite the economic slowdown, Wipro BPO, the business process outsourcing division of IT giant Wipro Technologies, is hiring personnel and expanding its operations globally, a top official said here Tuesday.'For the last six months, we have been hearing depressing news about people losing jobs and companies resorting to cost-cutting measures but we are still looking for people,' Wipro BPO head Ashutosh Vaidya told reporters. The company plans to expand its BPO facility in Hyderabad by recruiting 1,000 to 1,200 people over the next six to eight months, he said.

August 13th, 2009 BANGALORE - Global software major Wipro Technologies Thursday said it has set up a consulting academy in the US to strengthen the customer management skills of its frontline employees. The enterprise application services consulting academy will inculcate the right engagement behaviour at an early stage for improving customer satisfaction, the company said in a statement here.

July 23rd, 2009 CA 2Q profit nearly flat, but outlook lifts sharesISLANDIA, N.Y. — Business management software company CA Inc.

December 22nd, 2008 BANGALORE - India's second largest IT bellwether Wipro Technologies Tuesday announced acquisition of Citi Technology Services, the India-based captive provider of IT services and solutions to Citigroup entities worldwide, for $127 million in an all-cash deal. As part of the deal, Wipro and Citi will sign a Master Services Agreement for delivery of technology infrastructure services and application development and maintenance services for six years, which is projected to accrue $500 million during the contract.

January 12th, 2009 BANGALORE - India's second largest IT bellwether Infosys Technologies Tuesday posted a net profit of Rs.16.41 billion (approx $335.5 million/Rs.1,641 crore) for the third quarter of this fiscal (2008-09), registering 33 percent year-on-year (YoY) growth and 14.6 percent sequentially as per the Indian accounting system. Under the international financial reporting standards (IFRS), the net income for the October-December quarter under review (Q3) is $330 million as against $310 million in the same period a year ago, a modest growth of 6.5 percent YoY.

August 27th, 2009 Dell profit down 23 pct but just beats estimateSAN FRANCISCO — Dell Inc. says its second-quarter profit fell 23 percent as the personal-computer industry's slump dragged on this summer.