Wipro reports Rs.122 billion in Q1 2016

MUMBAI, INDIA: Wipro has announced the results for the quarter ended June 30, 2015.

Net income was Rs 21.9 billion ($344 million), an increase of 4 percent YoY. IT services revenue was $1,794.1 million, a  sequential increase of 1.1 percent, non-GAAP constant currency IT services segment revenue in dollar terms grew 0.2 percent sequentially and grew 8.1 percent YoY.

TK Kurien, Member of the Board & Chief Executive Officer, Wipro, said, “On the run side, deals are getting increasingly competitive and we are focused  on increasing the levels of automation, while on the change side, new stakeholders are influencing buying decisions in the Digital space. On the run side, we continued to win deals which deploy Wipro HOLMES, our artificial intelligence platform to drive down costs for our customers. On the Change side, we have announced the aquisition of Designit, one of the largest independent global strategic design firms. Designit’s design capabilities in synergy with Wipro’s scale in technology services will position Wipro uniquely in Digital, as an integrated design & technology player.”

Jatin Dalal, Chief Financial Officer of Wipro, added, “We continued to drive productivity and improve operating levers even as we invested for growth in people, process and IP. In the quarter, we maintained strong cash flow generation while operating margins were, on predictable lines, modestly lower due to employee compensation measures.”