Wipro Q3 net profit up 18% YoY Technology major Wipro reported 3.51 per cent rise in net profit to Rs 1,003.90 crore for the Oct-Dec quarter compared with Rs 969.80 crore in the previous quarter, while on a year-on-year basis, net profit rose 18 per cent. Net sales grew 1.75 per cent to Rs 6634.30 crore in the quarter ended Dec 31, 2008 as against Rs 6519.60 crore in the last quarter. On a standalone basis, the company's net profit stood at Rs 733 crore in the Oct-Dec period against Rs 852.50 crore sequentially. Net sales decreased to Rs 539.70 crore from Rs 540.50 crore in the Jul-Sep quarter. Results Highlights: • IT services revenue based on exchange rate as of September 30, 2008 at $1,126 million, ahead of Wipro guidance of $1,121 million • Wipro Limited Revenue increased by 25 per cent (YoY) to Rs. 6,618 crore; profit grew by 18% to Rs. 1,004 crore. • IT Services Revenue in dollar terms was $1,100 million, a sequential decline of 0.9% (growth of 3.5% in constant currency) and YoY growth of 12.4% (growth of 19.2% in constant currency). • In rupee terms, Revenue for IT Services stood at Rs. 50.79 billion (Rs. 5,079 Crores), a YoY growth of 31%. • Profit Before Interest & Tax (PBIT) for IT Services segment was Rs. 1,045 crore, a growth of 26% YoY. • IT Services business added 31 new clients during the quarter. • IT Products business recorded a 25% YoY growth in Revenues and 45% YoY growth in PBIT. • Wipro Consumer Care and Lighting business Revenue grew 21% YoY and PBIT grew 17% YoY.