Wipro Q1 net profit up 13% at Rs2,388 cr

Wipro Ltd, India’s third-largest software export company, reported a 12.6 per cent jump in its net profit at Rs2,388 crore for fiscal first-quarter (April-June 2019-20), boosted by robust demand from its key financial clients.

The Bengaluru-based company had reported a net profit of Rs2,121 crore for the three months ended 30 June 2018.
Gross revenue for the quarter stood at Rs13,980 crore ($2.0 billion), up 1.5 per cent sequentially and 2.6 per cent year-on-year.
Revenue from IT Services Segment Revenue at Rs13,700 crore ($2.0 billion), up 2.2 per cent sequentially and 5.2 per cent year-on-year. IT services segment revenue in dollar terms, however, was down 1.7 per cent at $2,03 billion sequentially, but up 2.8 per cent year-on-year.
IT services margin for the quarter at 17.2 per cent. This includes a gain of Rs252.9 crore ($36.9 million) from the sale of our hosted data center business in the quarter ended 30 June 2018.