1. Wipro Q2 net profit up 7.2 per cent at Rs 2,235.4 cr; beat market estimates

Wipro Q2 net profit up 7.2 per cent at Rs 2,235.4 cr; beat market estimates

Wipro Ltd, India's third-biggest software services exporter, reported a 7.2 percent rise in quarterly profit that just beat market estimates, helped by better IT spending by global clients and a rise in high margin digital projects.

By: | Bengaluru | Updated: October 21, 2015 5:43 PM
Wipro q2

Wipro Ltd, India’s third-biggest software services exporter, reported a 7.2 percent rise in quarterly profit that just beat market estimates, helped by better IT spending by global clients and a rise in high margin digital projects. (PTI)

Wipro Ltd, India’s third-biggest software services exporter, on Wednesday posted 7.2 per cent year-on-year rise in its consolidated net profit at Rs 2235.40 crore for the second quarter ended September 30, 2015.

The company posted net profit of Rs 2,084.80 crore in the corresponding quarter a year ago. Bottomline figures of the IT major jumped by 2.18 per cent on quarter on quarter basis. Wipro posted net profit of Rs 2187.70 crore in the sequential quarter ended June 30, 2015.

The company said that its consolidated net sales rose by 6.3 per cent to Rs 12,566.8 crore in July-September quarter this fiscal from Rs 11,816 crore in the same period a year ago.

On a standalone basis, net profit of the company jumped 7.53 per cent year-on-year to Rs 2141.90 crore against Rs 1992 crore in the corresponding quarter a year ago. Net profit of Wipr jumped 7.73 per cent on quarter on quarter basis.

In dollar terms, the revenue from IT services registered a quarter-on-quarter growth of 2.1 per cent at $1.83 billion, in line with its guidance of $1.82 million to $1.85 million.

Commenting on the performance, Wipro Chief Executive Officer T K Kurien said: “During the quarter, we grew IT Services Revenues in dollar terms by 3.1 per cent in constant currency and maintained margins in a narrow range.”

Analysts, on an average, expected a profit of Rs 2,225 crore from Wipro, according to Thomson Reuters data.

The share price of the company closed 1.04 per cent up at Rs 577.90 on Wednesday.

With agency inputs

Tags: Wipro
  1. V
    Vipul
    Oct 21, 2015 at 5:57 pm
    4th para, 2nd line. Wipro*
    Reply

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