Wipro and its CEO and Board Member T K Kurien and HCL Technologies President and CEO Anant Gupta have been awarded the Women's Empowerment Principles (WEPs) Leadership awards.

Wipro on Friday said its net profit from continuing operations increased to $273 million for the quarter ended June 30, 2013, an increase of 11% year-on-year.

The total revenues of Wipro, which include IT business, consumer care and lighting and others, rose by 11.72 per cent to Rs 11,026.4 crore in the last quarter of 2012-13 from Rs 9,869.1 crore in the year-ago period.

Consolidated total income of the IT major was up by 10 per cent to Rs 10,989.1 crore for the October-December quarter in the current fiscal against Rs 9,965.1 crore in the same period of 2011-12 fiscal.

Wipro shares closed higher by nearly 1 per cent after the company's second quarter results met market expectations.

Wipro Chief Financial Officer Suresh Senapathy says the demerger will bring clarity in the minds of customers, target companies, investors and analysts, thus improving the competitiveness of Wipro Ltd.

The move to hive off Wipro's non-IT businesses into a separate, non-listed entity could lower promoter Azim Premji's stake in them, in line with new public holding norms mandated by Sebi.

In line with market expectation, Wipro posts 18.37 per cent increase in consolidated net profit at Rs 1,580.2 crore for the first quarter ended June 30, 2012.

IT giant Wipro's Chairman and Managing Director Azim Premji saw his remuneration falling by nearly one-third to Rs 1.9 crore last fiscal, but the group's IT business CEO T K Kurien's pay package grew over five times to Rs 4.5 crore.

Wipro on Thursday announced that the chief of its BPO business, Manish Dugar, is quitting the company to \"pursue interests outside of Wipro\". Dugar's resignation, however, casts a shadow over the stability of this key business

The company expects revenues from IT services business to be in the range of $1,520 million to $1,550 million in the first quarter of this fiscal.

Wipro expects revenues from IT services business to be in the range of $1,520 million to $1,550 million, a sequential increase of one per cent to three per cent, for the fourth quarter ending March 31.

\"We need to see if this downgrade along with the prevailing macroeconomic conditions has any further impact on the real economy, which is primarily driven by consumer and business confidence,\" Wipro CEO and Executive Director T K Kurien said in a statement.

The steep pay hike comes against the backdrop of the company's good performance in recent quarters, even as many of its peers are grappling with tough business conditions.

BPO major Genpact names NV 'Tiger' Tyagarajan as its President and Chief Executive Officer, replacing Pramod Bhasin who has decided to step down as CEO and member of the Board.

IT services, which contributed 76 per cent to the company's revenues in 2010-11, stood at $1,400 million, a sequential increase of 4.2 per cent and 20 per cent year-on-year.

Paranjpe and Vaswani, currently joint-CEOs of the IT business, will step down on February 1. Kurien will lead the business and will also be an executive director.

For the quarter ended December 31, 2010, the information technology major posted a jump of 10 per cent in its net profit from Rs 1,203 crore in the same period last year.

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