Wipro Q2 net profit raises 1.2% at Rs 2,083 crore


New Delhi: The nation’s main software corporation, on Thursday Wipro accounted a 1.2 per cent increase in its June quarter net profit at Rs 2,083 crore. Though the corporation accounted a decrease of 8 per cent quarter-on-quarter (QoQ) for April-June period at Rs 2,077 crore. IT reported a consolidated net profit of Rs 2,059 crore in the similar period previous year.

Ashok Leyland reported its 62% fall in first-quarter profit

Bengaluru-headquartered Wipro posted consolidated revenue of Rs 13,626 crore, whereas revenue from its core IT services reaches in at Rs 13,026 crore. The IT corporation has also declared Rs 11,000 crore buyback which it aspire to facilitate by buying 34.3 crore shares for Rs 320 apiece.

Wipro’s earnings before interest and taxation (EBIT) margin stood at 16.8 per cent, slightly higher than Street estimates. The IT further accounted dollar revenue of $ 1971.7 million. Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board further stated that we delivered revenues over the upper end of the guidance range.

Our focus on Digital combined with our investments in client mining has resulted in strong expansion in accounts. Wipro chairman Azim Premji has also conveyed on Wednesday that, looking forward, we carry on to look volatile economic environment but applicants are forwarding to spend in technology as technology is becoming main differentiator in all businesses.

Over 1.62 lakh companies deregistered till July 12, says Finance Minister Arun Jaitley