Wipro beats first-quarter consolidated profit estimates

Consolidated profit rose to 20.83 billion rupees ($323.35 million) for the three months to June 30, Wipro said in a statement.

India’s third-largest software services exporter, posted a 1.2 % rise in first-quarter consolidated profit helped by higher revenue from banking, financial services and insurance segment.

Wipro Campus building in Bengaluru. (Livemint)

Consolidated profit rose to 20.83 billion rupees ($323.35 million) for the three months to June 30, Wipro said in a statement.

Analysts had expected a profit of 20.29 billion rupees, according to Thomson Reuters data.

The Bengaluru-headquartered company reported consolidated revenue of 136.26 billion rupees, while revenue from its core IT services came in at 130.26 billion rupees.

Wipro said it expected revenue from its IT services business to be in the range of $1.96 billion to $2 billion for the quarter ending on September 30.