Jul 25, 2012

Wipro increases salary by 8 per cent

Wipro, India's No. 3 software services exporter, said it raised wages for its employees in India by 8 per cent and for its overseas employees by 2-3 per cent effective June 1.

Earlier on Tuesday, the company forecast subdued IT services sales for the current quarter after posting an 18 per cent rise in quarterly profit that met market expectations on growth in outsourcing work.

The country's third-largest software firm Wipro today reported 18.37 per cent increase in consolidated net profit at Rs 1,580.2 crore for the first quarter ended June 30, 2012.

The company had posted a net profit of Rs 1,334.9 crore in the April-June quarter of last fiscal, Wipro said in a filing to the BSE.

The total income from operation during the quarter rose by 24.37 per cent to Rs 10,619.6 crore from Rs 8,538.4 crore in the year-ago period.

The company has also bagged a multi-year contract from Philips.

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