Wipro posts 12.5% rise in Q1 consolidated net profit at Rs 2,387.6 cr

Information technology major Wipro on Wednesday posted a 12.5 per cent rise in consolidated net profit at Rs 2,387.6 crore for the April-June quarter, and guided for up to 2 per cent sequential revenue growth for the July-September period.

Its revenue increased by about 5.3 per cent to Rs 14,716.1 crore during the reported quarter, compared to Rs 13,977.7 crore in the year-ago period. The Bengaluru-based company’s consolidated income rose by about 5 per cent to Rs 15,566.6 crore during the reported quarter.

Wipro’s mainstay IT services revenue was $2,038.8 million, up 4.3 per cent year-on-year. The company, which competes with rivals like Tata Consultancy Services and Infosys, had said its IT services revenues in June 2019 quarter were likely to be in the range of $2,046 million to $2,087 million, excluding the impact of the divestment of its Workday and Cornerstone On Demand business.