Wipro Q1 net profit falls nearly 21% to Rs 2,563.6 crore

IT services company Wipro Ltd on Wednesday reported about a 21 per cent year-on-year fall in its consolidated net profit to Rs 2,563.6 crore for the first quarter ended June 2022.

The profit for the period (attributable to the equity holders of the company) stood at Rs 3,242.6 crore in the year-ago period.

The net profit was down 20.6 per cent on a year-on-year basis, according to a filing.

The Bengaluru-headquartered company’s revenue from operations rose nearly 18 per cent year-on-year to Rs 21,528.6 crore during the just-ended quarter.

For the September quarter, the company expects revenue from the IT services business to be in the range of USD 2,817 million to USD 2,872 million. This reflects a sequential growth of 3-5 per cent.