Wipro Reports Profit Of Rs. 2,553 Crore In September Quarter

IT major Wipro on Tuesday reported a net profit of Rs. 2,552.7 crore for the quarter ended September 30. That marked an increase of 6.91 per cent compared with the previous quarter, and 35.13 per cent compared with the corresponding period a year ago. In a regulatory filing after market hours, Wipro said its revenue stood at Rs. 15,125.6 crore in the July-September period, marking a rise of 2.78 per cent compared to Rs. 14,716.10 crore in the previous quarter.

Wipro said revenue from its IT services segment stood at $2,048.9 million in the July-September period, marking an increase of 2.5 per cent compared to the year-ago period. The operating margin from the segment was 18.1 per cent. 

“We had a good in-quarter execution on both revenues and margins,” said Abidali Z Neemuchwala, CEO and managing director, Wipro.

Revenue from the IT products segment came in at Rs. 320 crore, the Bengaluru-based company said. 

"The overall growth was broad based with six out of seven 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," the Wipro CEO addedWipro expects revenue from its IT services business to be in the range of $2,065 million-$2,106 million in the quarter ending December 31. 

Wipro said it concluded its buyback of shares worth Rs. 10,500 crore ($1.49 billion) during the quarte