Wipro IT services revenue up 1.1%, meets expectations

BENGALURU: WiproNSE 2.18 % reported in-line revenue growth in the second quarter, helped by its consumer and manufacturing verticals, even as the Bengaluru-based IT services provider’s third-quarter growth forecast beat market expectations.

Wipro reported IT services revenue of $2.04 billion, up 1.1% sequentially, after stripping out currency volatility. It had forecast revenue growth of 0-2% in the quarter.

In rupee terms, revenue grew 4% to Rs 15,130 crore, while profit grew 35.1% to Rs 2,550 crore over the corresponding period. Its growth has been the slowest compared to larger rivals Tata Consultancy Services, which grew 1.6%, and InfosysNSE 0.14 %, which pulled in 3.3%, aided by its acquisition of Stater from ABN Amro.