Wipro posts muted Q1 numbers; net profit up 2% to Rs 21.2 billion

Third largest IT service provider Wipro posted net profit of Rs 21.2 billion for the quarter ended 30 June, up 2.1 per cent over the same quarter last year.

Gross revenue was Rs 139.8 billion ($2.0 billion), up 1.5 per cent sequentially and 2.6 per cent compared to the year ago period. IT services segment revenue stood at Rs 137 billion ($2.0 billion), up 2.2 per cent quarter on quarter-on-quarter (QoQ) and 5.2 per cent year-on-year (YoY).

IT services margin for the quarter was 17.2 per cent, including gain of Rs 2,529 million from the sale of their hosted data