Wipro reports Rs 2,390 crore net profit for first quarter of FY20

Bengaluru: Global software major Wipro on Wednesday reported Rs 2,390 crore net profit for the first quarter of FY20, registering 12.6 per cent annual growth from Rs 2,094 crore in the same period a year ago. Sequentially, net profit declined 4.2 per cent from Rs 2,494 crore a quarter ago.
In a regulatory filing on the BSE, the city-based IT behemoth said total revenue in Q1 grew by 5.3 per cent to Rs 14,720 crore from Rs 13,978 crore in Q1FY19. Sequentially, the revenue growth remained flat (0.2 per cent) from Rs 15,006 crore a quarter ago.
IT services business grew 4.3 per cent to Rs 14,189 crore for the quarter from Rs 13,841 crore a year ago, but declined 5 per cent sequentially from Rs 14,565 crore.