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Wipro Q2 net profit jumps 35 pc to Rs 2,552 cr

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Press Trust of India New Delhi
Last Updated : Oct 15 2019 | 4:50 PM IST

Wipro Ltd on Tuesday posted 35 per cent rise in consolidated net profit to Rs 2,552.7 crore for the second quarter ended September 30.

The company had registered a net profit of Rs 1,889 crore in the year-ago period.

Its total income for September quarter stood at 15,875.4 crore compared to 15,203.2 crore a year ago.

The Bengaluru-based company's revenue came in 4 per cent higher year-on-year at Rs 1,51,25.6 crore.

Wipro has guided for 0.8-2.8 per cent sequential growth in IT service revenue for December quarter, saying revenue from that business is expected to be USD 2,065-2,106 million.

For the just concluded quarter, the company's IT services segment revenue was at USD 2,048.9 million, an increase of 2.5 per cent year-on-year, a Wipro statement said.

The operating margin for IT services in the just-ended quarter improved year-on-year to 18.1 per cent. The net income at Rs 2,552.7 crore, translated into 35.1 per cent increase.

Commenting on the earning scorecard, Abidali Z Neemuchwala, Wipro's CEO and Managing Director said: "We had a good in-quarter execution on both revenues and margins. The overall growth was broad based with 6 out of 7 industry verticals growing on a year on year basis..."

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First Published: Oct 15 2019 | 4:50 PM IST

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