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Good results from Wipro; extraordinary hit from Wipro Finance - Views on News from Equitymaster
 
 
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  • Jan 24, 2000

    Good results from Wipro; extraordinary hit from Wipro Finance

    Wipro reported a 37% growth in the turnover for the third quarter of the current year vis-a-vis the last year. The infotech division (comprising both Wipro technologies and Wipro Infotech) contributed 80% of the turnover and 85% of the profits. However, the consumer care and lighting division had a degrowth of 12% during the third quarter.

    Overall the net profit excluding extra-ordinary charges has grown by 215% to Rs.840 m. During the quarter the company has sold its 8% stake in Wipro Net, its ISP venture with KLM, the Dutch Telecom company. This resulted in an extraordinary income of Rs 1095 million. Besides, the company also sold shares in Wipro Finance which resulted in a loss of Rs.810 m, apart from providing for a diminution in the value of its investment in Wipro Finance of Rs.700 m.

    (Rs m) 3QFY2000 3QFY1999 Change
    Net Sales 5,701.0 4,161.0 37.0%
    Other Income 67.0 71.0 -5.6%
    Total Expenditure 4,612.0 3,715.0 24.1%
    Interest 59.0 79.0 -25.3%
    Depreciation 156.0 160.0 -2.5%
    Profit before Tax 941.0 279.0 237.3%
    Tax 101.0 12.0 741.7%
    Profit after Tax/(Loss) 840.0 267.0 214.6%
    Net profit margin (%) 14.7% 6.4%  

     

     

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