Wipro net rises, guidance flat
The country’s third-largest software firm, Wipro, beat its own guidance and outperformed market forecasts to post a 12% rise in net profit at Rs 1,016 crore for the quarter ended June 30, compared with the same quarter last fiscal. This is in line with its two bigger rivals, TCS and Infosys, whose quarterly numbers also surpassed market expectations.
The company’s revenue stood at Rs 6,274 crore, up 5% year-on-year, but down 2.7% sequentially, according to Indian GAAP. However, net profit was marginally up sequentially at 0.6%. Revenues from IT services, which accounted for over two-thirds, were at Rs 4,825 crore, an increase of 10% y-o-y, but down 2.2% sequentially. In dollar terms, Wipro’s IT revenues stood at $1,033 million.
The company attributed growth in the quarter to deals won in India and the Middle East.
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To read the ePaper, visit: http://epaper.financialexpress.com
The company’s revenue stood at Rs 6,274 crore, up 5% year-on-year, but down 2.7% sequentially, according to Indian GAAP. However, net profit was marginally up sequentially at 0.6%. Revenues from IT services, which accounted for over two-thirds, were at Rs 4,825 crore, an increase of 10% y-o-y, but down 2.2% sequentially. In dollar terms, Wipro’s IT revenues stood at $1,033 million.
The company attributed growth in the quarter to deals won in India and the Middle East.
To read the full article, click here..
To read the ePaper, visit: http://epaper.financialexpress.com
Labels: india and middle east, profits, Wipro, wipro net profit, wipro revenue, wirpo it revenues
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