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Wipro Q2 net profit dips to Rs 2,143 crore

Revenues from IT services segment, which accounts for a significant portion of the company’s topline, stood at $2.013 billion.

business Updated: Oct 18, 2017 12:12 IST
Press Trust of India
Press Trust of India
Press Trust of India, New Delhi
Wipro,Wipro Q2 Results,Wipro Q2 Profit
People walk in the Wipro campus in Bangalore.(Reuters File Photo)

India’s third largest software services firm Wipro on Tuesday said its consolidated net profit has declined marginally to Rs 2,143.2 crore for the quarter ended September 30, 2017.

This is against a net profit of Rs 2,163.6 crore in the July-September 2016 quarter as per Indian accounting norms (Ind AS), Wipro said in a BSE filing.

Wipro’s total income slipped 1.8% to Rs 14,134.8 crore in the quarter under review from Rs 14,407.3 crore in the year-ago period, it added.

Revenues from IT services segment, which accounts for a significant portion of the company’s topline, stood at $2.013 billion, up 2.1% sequentially.

This was higher than the company’s revenue guidance range of $1,962 million to $2,001 million.

“We surpassed the milestone of $2 billion in quarterly revenues for IT services on the back of rigorous execution of our strategy,” Wipro CEO Abidali Z Neemuchwala said.

For the October-December 2017 quarter, the company expects revenues from the IT services business to be in the range of $2,014 million to $2,054 million.

Wipro’s revenues from IT products segment was Rs 300 crore ($46 million) in the reported quarter.

The company saw its headcount coming down to 1,63,759 during the second quarter from 1,66,790 in the previous sequential quarter. Attrition stood at 15.7% on trailing 12 months basis.

First Published: Oct 17, 2017 17:11 IST