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Wipro's Q1 (Indian GAAP) consolidated net sales was up 5% at Rs 5,981.1 crore versus Rs 5,691.9 crore (QoQ). The consolidated net profit was up 4.2% at Rs 907.8 crore versus Rs 871.6 crore (QoQ)..NS

Wipro with a target price of Rs 470 in its September 1, 2008 research report. "Wipro Ltd, according to media reports may buy a German competitor that advises companies running business software made by SAP AG. According to the management, the target company is expected to have sales of about USD 100 million to USD 200 million and would have a strong German presence, Wipro wants to have a stronger presence in Germany. It is believed that the company is working on a few targets.

buy Wipro for a target price of Rs 477. Wipro in 1QFY2009 recorded a decent 5.6% qoq growth in Top-line. This was driven primarily by impressive pricing-related increases, as also the Rupee depreciation witnessed during the quarter. Despite the Margin expansion witnessed this quarter, Wipro?s Bottom-line grew by 3% qoq, slower than the growth in EBITDA. This was on account of lower Other Income (down 17.9% qoq), higher Interest Costs (up by as much as 65.2% qoq) and higher Taxes paid (Effective Tax Rate of 14.5% v/s 13.8% in 4QFY2008). Wipro recorded forex losses to the tune of Rs 69.7 crore in 1QFY2009.

As per Indian GAAP, Wipro has reported a consolidated net profit of Rs9.08bn versus Rs8.72bn in the previous quarter. This translates into a sequential growth of 4.2% and a Year on Year (YoY) growth of 25%. Revenue for the quarter are Rs59.67bn as against Rs57bn, reflecting a Quarter on Quarter (QoQ) growth of about 5%. IT Services Revenue in dollar terms was US$1.07bn, a sequential growth of 3.5%, and marginally better than the company's guidance of US$1.06bn. In rupee terms, revenue stood at Rs44.05bn, a YoY growth of 39%.