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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9138)	10/29/1999 2:26:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Wipro's H1 net vaults 79 per cent to $27 million wipro.com (Saturday, October 30, 1999) Our Bureau in Bangalore (BS) Wipro Ltd has reported a 79 per cent increase in net profit to Rs 119 crore ( $27 mil) for the first-half of the year ended September 30, 1999, from Rs 66.6 crore in the corresponding period of the previous year. The sales, too, have gone up by 23 per cent to Rs 985.2 crore ($227 mil) from Rs 798.7 crore ($184 mil) the previous year. According to a company statement, Wipro's Software and Services business posted a 55 per cent rise in sales during the first half to Rs 440.7 crore. Profit before interest and tax (operating margin) was Rs 114.6 crore, up 39 per cent over the last year's first half. Sales at Wipro's Systems and Service business, involved in networking solutions, customer service and computer and peripherals, grew by 16 per cent to Rs 342.2 crore and operating margin was up at Rs 11.1 crore. Services comprising of facilities management, networking consulting, global support, software, warranty, post-warranty and managed services increased by 55 per cent with operating margin in excess of 15 per cent. However, the company's consumer care and lighting division has not fared well with sales declining by 16 per cent to Rs 155.5 crore. However, operating margins have gone up by 19 per cent to Rs 23 crore. It has stated that revenue in vanaspati business has declined by 43 per cent during the first half compared with the corresponding previous period due to the fall in commodity oil prices. Besides, the company has stated that it has earned Rs 4.6 crore from its 'six sigma quality' initiatives in the half year against a Rs 4.4-crore savings in the full year of 1998-99. It has further stated that the company has achieved significant success in product quality, working capital and management, and productivity projects, and will reach 'four sigma' in 2000.