Wipro beats estimates in Q2, net profit rises to ₹2,553 crore

IT major Wipro Ltd today reported a better-than-expected September-quarter earnings, driven by higher margins. Net profit came in at ₹2,553 crore as compared to ₹1,889 crore a year earlier. Analysts polled by Reuters expected the Bengaluru-based IT company to report a profit of ₹2,273 crore. Wipro reported a revenue of ₹14,656 crore for its key IT services unit. Its operating margins for the IT services unit rose to 18.1%.

Unlike Infosys which provides full-year guidance, Wipro gives a quarterly guidance. For the December-quarter, Wipro expects a revenue between $2.07 billion and $2.11 billion for the IT services unit.

Commenting on Q2 performance Abidali Z. Neemuchwala, CEO and Managing Director, said, “We had a good in-quarter execution on both revenues and margins.