Wipro Q1 net profit up 16.3% QoQ to Rs. 2093Cr


Bangalore : Wipro ,India’s third largest IT services firm today reported  a consolidated net profit of Rs 2,093.8 crore for the June quarter, 16.3 % more than the net profit of Rs.1800 Cr in the March quarter. Revenue from operations grew 1.5 %  during the quarter under review to Rs 13,977.7 crore. Rupee revenue from IT services was Rs 13,700.3 crore, 2.1 percent higher quarter on quarter (QoQ). Earnings per share (EPS) for the quarter at Rs.4.71 ($0.071) per share, an increase of 9.9% YoY.

Wipro expects Revenue from its IT Services business to be in the range of $2,009 million to $2,049 million. This translates to a sequential growth of 0.3% to 2.3%, excluding the impact of the divestment of our hosted data center services business which concluded in the quarter ended June 30, 2018.

 “We have seen pickup in spending in the developed markets, particularly in North America and BFSI. Our investments in Digital continue to help us build differentiation in key industry segments, which is resulting in a consistent improvement in our client metrics. We have had a good quarter of order bookings and I am confident we are moving in the right direction” Abidali Z. Neemuchwala, CEO and Member of the Board said.

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