Wipro Q2 profit up at Rs 2,562 crore, beats street estimates; key figures in a nutshell

IT major Wipro on Tuesday posted 35 per cent rise to Rs 2,552 crore in the second quarter of the ongoing fiscal as against compared with 1,889 crore in the corresponding period of the last year. The software exporter recorded better-than-expected results amid global spending squeeze among its clients. Analysts on an average were expecting the company to earn profit of Rs 2, 273 crore, according to Refinitiv data. The results come days after larger rival Tata Consultancy Services quarterly profit missed expectations. Infosys only managed to meet estimates. The revenue stood at Rs 15,125.6 crore for the quarter, marking a rise of 2.78 per cent compared to Rs 14,716.10 crore the previous quarter.

“We had a good in-quarter execution on both revenues and margins. The overall growth was broad based with 6 out of 7 industry verticals growing on a year-on-year basis and we signed a large deal in India aligned to our strategy of taking global offerings to India customers,” said Abidali Z Neemuchwala, CEO and managing director, Wipro.