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Wipro Q1 net profit rises marginally to Rs 2,390 crore – Times of India

NEW DELHI: Software services exporter Wipro on Tuesday reported a marginal 0.12 per cent rise in its consolidated net profit for the first quarter (Q1) ended June 30.
The Bengaluru-based company posted a net profit of Rs 2,390 crore as against a net profit of Rs 2,387 crore posted in the same period last year.
On quarterly basis, the company reported a 1.22 per cent rise in net profit as compared to Rs 2,326 crore reported in previous quarter.
The newly appointed CEO and managing director of Wipro, Thierry Delaporte said: “I am deeply honored to lead Wipro, an extraordinary company and an exemplary corporate citizen with a deep technology heritage built on a strong foundation of values. Profitable growth will be the most important priority on my agenda. I am confident that we will be able to deliver long-term, sustainable growth in the interest of all our stakeholders.”
The company’s revenue from operations rose 1.33 per cent to Rs 14,913 crore in Q1 from Rs 14,716 crore reported in the same period previous fiscal. While, its IT services revenue surged 1.7 per cent to Rs 14,595 crore in the period under consideration from Rs 14,351 crore posted in Q1 last year.
In addition, the total income of Wipro was almost flat at Rs 15,571.4 crore in the April-June quarter compared to Rs 15,566.6 crore in the same quarter of the last financial year.
Jatin Dalal, chief financial officer of Wipro said: “We expanded the margins during the quarter, despite lower revenues, on the back of solid execution of several operational improvements and rupee depreciation. We also continued to sustain robust cash generation with operating cash flows at 174.9% of net income.”
Shares of Wipro finished 2.50 points or 1.10 per cent lower at Rs 225.05 on the BSE. While, it closed 2.30 points or 1.10 per cent lower at Rs 225.30 on the NSE.
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