Wipro Q2 net profit jumps 35 pc to Rs 2,552 cr

Its total income for September quarter stood at 15,875.4 crore compared to 15,203.2 crore a year ago. The Bengaluru-based company’s revenue came in 4 per cent higher year-on-year at Rs 1,51,25.6 crore.

Wipro has guided for 0.8-2.8 per cent sequential growth in IT service revenue for December quarter, saying revenue from that business is expected to be USD 2,065-2,106 million. For the just concluded quarter, the company’s IT services segment revenue was at USD 2,048.9 million, an increase of 2.5 per cent year-on-year, a Wipro statement said.

The operating margin for IT services in the just-ended quarter improved year-on-year to 18.1 per cent. The net income at Rs 2,552.7 crore, translated into 35.1 per cent increase. Commenting on the earning scorecard, Abidali Z Neemuchwala, Wipro’s CEO and MD said: “We had a good in-quarter execution on both revenues and margins, considering the slow start to the fiscal.

The overall growth was broad based with 6 out of 7 industry verticals growing on a year on year basis...” The demand environment remained unchanged for IT spends though there was an overhang of macro uncertainty in certain sectors, the CEO said. “We continue to see a robust pipeline and the momentum of order book in Q2 has been better than Q1,” Neemuchwala said.