Wipro Q2 net rises 5.5% to Rs 2,192 cr

Sees December quarter revenues from IT services to be in range of $2.01 bn-$2.05 bn

Wipro Ltd, country's third-largest software services exporter, posted a 5.5% rise in second-quarter profit on Tuesday, helped by an uptick in its banking and financial services segment.

Profit rose to Rs 2,192 crore in the three months ended Sept. 30, from Rs 2,076 crore in the previous quarter ending June 30.

IT Services revenue grew 1% to Rs 13,169 crore as against Rs 13,026 crore in the June quarter.

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

IT services margin for the September quarter was 17.3%.

"Productivity gains generated by holmes automation suite, operational efficiencies overcame incremental impact of wage hikes," the company said in a post-results statement.

"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.

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.

IT services segment revenues for quarter in dollar terms were $2.01 billion, an increase of 2.1% sequentially.

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.

On Tuesday, Wipro scrip declined 0.2% at the time of BSE's closing at Rs 289.35.