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Wipro posts revenue of Rs 12,500 crore for Q2

Wipro posted revenue (including its hardware business) at Rs 12,510 crore, up 7 percent on a year-on-year basis and 2.2 percent on sequential basis

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Sonal Desai
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MUMBAI, INDIA: Wipro, India's third-largest information technology (IT) services company, posted revenue (including its hardware business) at Rs 12,510 crore, up 7 percent on a year-on-year basis and 2.2 percent on sequential basis.

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It reported net profit of Rs 2,235 crore up 7.2 percent on a year-on-year basis.

Wipro’s ITeS business continued to contribute the largest share. It grew 10 percent y-o-y to Rs 12,040 crore. Net profit of the business came in at Rs 2,500 crore, an increase of 4 percent.

"During the quarter, IT services revenues in dollar terms grew by 3.1 percent in constant currency and maintained margins in a narrow range. Wipro Digital, strengthened uniquely by the addition of Designit, with both strategic design process capability along with Wipro's technological capability is positioning us uniquely as an integrated design and technology player," TK Kurien, Member, Board & Chief Executive Officer, Wipro, said.

Jatin Dalal, Chief Financial Officer, Wipro, said, "Our investments in next-gen delivery practices generated productivity to significantly mitigate the impact of wage hikes and utilisation on operating margins. The impact of cross-currency on operating margins was compensated by the benefits from rupee depreciation."

Wipro also some uptake for its offerings in Digital. For instance, Wipro HOLMES, its cognitive intelligence platform, is engaged in 12 projects in business-critical areas for marquee customers, the company said.

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