Business

Wipro Q2 results: Wipro profits fall 9.6%, revenue up 7.7%

Wipro Q2 results: Wipro profits fall 9.6%, revenue up 7.7%

Wipro said that the company’s consolidated net profit declined 9.6 percent in the quarter ending September.

Wipro Q2 results in hindi: Wipro said on Wednesday that the company’s consolidated net profit fell 9.6 per cent to Rs 2,930.7 crore in the quarter ending September. The company’s consolidated revenue grew by 7.7 per cent to Rs 19,667.4 crore in the quarter. The reason for the decline in the company’s profit has been the payment of higher taxes and sharp rise in costs.

Company expects 2-4% growth in revenue in December quarter

For the quarter, the IT services segment grew 6.9 per cent in US dollar terms. It has reached $2.58. The growth of the company in the IT services segment in rupee terms was 8.1 per cent on a quarterly basis. Wipro said it expects revenue growth of 2-4 per cent in the December quarter.

Wipro Managing Director and Chief Executive Director Thierry Delaporte said the second quarter results show that their business strategy is working well. The operating performance of the company has been strong. This is because the company has been able to keep the consolidated operating margin for the IT services segment flat at 17.8 per cent on an adjusted basis. On a reported basis, margins fell 104 basis points in the quarter.

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In the quarter under review, employee benefits increased by 8 per cent. It shows the effect of increase in salary by the company. The company did this to retain the talent here. Despite these efforts, the attrition rate increased by 20.5 per cent in the quarter. It was 15.5 per cent in the previous quarter. Wipro said that its growth across all markets, sectors and categories of global business has been very good. The company said that it has added two more clients in the 100 million dollar plus category and two more in the 50 million dollar plus bracket.

The company’s shares were up 2 per cent at Rs 672.4 on the National Stock Exchange.

Let us tell you that Wipro’s consolidated net profit jumped 35.6 per cent to Rs 3,242.6 crore in the April-June quarter of the current financial year 2021-22. The company had earlier made a profit of Rs 2,390.4 crore in the same quarter of the financial year 2020-21. Wipro said in the information given to the stock exchange that its operating income increased by 22.3 percent to Rs 18,252.4 crore in the June 2021 quarter.

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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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