S&P upgrades long term corporate credit rating of Wipro
Date: 05-04-2012Credit rating agency, Standard and Poor (S&P) has upgraded the long term corporate credit rating of Wipro from ‘BBB’ with positive outlook to ‘BBB+’ with stable outlook.
Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally.
The Company has posted a net profit of Rs 1,063.90 crore for the quarter ended December 31, 2011, lower by 13.07% as compared to Rs 1,223.90 crore for the quarter ended December 31, 2010. Total Income increased by 24.46% to Rs 8515.60 crore compared to Rs 6787.60 crore for the corresponding previous quarter.