Wipro‘s net profit up by 17 percent

Bangalore -- Indian IT major Wipro Limited has posted a net profit of Rs 7.3 billion in the first quarter of the current fiscal 2007-08, registering a growth of 17 percent.

Announcing the result of its first quarter, Wipro Chairman Azim Premji said that the company is investing in growth markets worldwide during this fiscal year to compete with global peers.

"The results for the quarter are satisfying considering the strong headwinds faced by us in the form of an appreciating rupee," he said.

The revenue from the global IT division of the IT major is 726 million dollars, registering a growth of 20 percent.

The company today projected revenue of 777 million dollars from its flagship global IT services and products division for the second quarter (July-Sept) of the current fiscal (2007-08). (ANI)