Wipro Q1 net profit up

IT major Wipro on Thursday reported a 35.6 per cent jump in consolidated net profit to Rs 3,242.6 crore for the June 2021 quarter.

Wipro had registered a net profit (attributable to equity holders) of Rs 2,390.4 crore in the year-ago period, as per Indian Accounting Standards (Ind-AS). Its revenue from operations increased by 22.3 per cent to Rs 18,252.4 cr in the reported quarter from Rs 14,913.1 cr in the same period last fiscal, Wipro said in a regulatory filing.

Wipro – which gets the bulk of its topline from IT services – said it expects revenues from that unit to be in the range of $2,535 million to $2,583 million in the September 2021 quarter. This translates into a sequential growth of 5-7 per cent. Wipro’s IT services segment revenue was at $2,414.5 mn in the Q1 of FY22, a rise of 12.2 per cent quarter-on-quarter and 25.7 pc year-onyear. It had given a guidance of 2-4 pc growth in the June quarter. Despite the severe onslaught of the pandemic, we delivered our best-ever quarter, with secular growth across all SMUs, Sectors and GBLs.

Our sequential revenue growth of 12.2 pc was well ahead of the top-end of our guidance range, both organically and with Capco, Wipro CEOMD Thierry Delaporte said.

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