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Wipro Profit Rises 9% To Rs 3,243 Crore In June Quarter

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Wipro's Profit Rises 9% To Rs 3,243 Crore In June Quarter

The country’s leading software services company – Wipro – on Thursday reported its best-ever quarterly earnings in the first quarter of the current financial year and guided for revenue growth of 5-7 per cent for September quarter. Wipro’s net profit rose 9 per cent sequentially to Rs 3,243 crore from Rs 2,972 crore in the previous quarter. Its revenue from operations advanced 12.35 per cent to Rs 18,252 crore against Rs 16,245 crore in the previous quarter.

In dollar terms, Wipro clocked revenue of $2.41 billion, registering a sequential growth 12.2 per cent. In constant currency terms revenue rose at 12 per cent sequentially. The company recorded highest organic sequential revenue growth in the last 38 quarters in constant currency terms, Wipro said in a press release.

“We expect Revenue from our IT Services business to be in the range of $2,535 million to $2,583million. This translates to a sequential growth of 5.0 per cent to 7.0 per cent,” Wipro said in an earnings release.

The company closed eight large deals resulting in a total contract value (TCV) of over $715 million. Customer count in more than $100 million accounts moved from 11 to 13 and more than 50 million accounts moved from 40 to 42 in June quarter, Wipro said.

“Despite the severe onslaught of the pandemic, we delivered our best-ever quarter, with secular growth across all SMUs, Sectors and GBLs. Our sequential revenue growth of 12.2% was well ahead of the top-end of our guidance range, both organically and with Capco. Though in the early days yet, I am pleased with the way we have collaborated with Capco to build our joint go-to-market offerings and strategy. We remain focused on deepening our customer relationships, investing in talent & capabilities for the future, and winning market share,” Thierry Delaporte, CEO and Managing Director at Wipro, said in a statement.

Wipro shares advanced 2.52 per cent to close at Rs 575.75, outperforming the Sensex which closed 0.5 per cent higher.

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