Wipro Q1 net profit up 35.6% at Rs 3,242.6 crore

IT major Wipro on Thursday reported a 35.6 per cent jump in consolidated net profit to Rs 3,242.6 crore for the June 2021 quarter.

Wipro had registered a net profit (attributable to equity holders) of Rs 2,390.4 crore in the year-ago period, as per Indian Accounting Standards (Ind-AS).

Its revenue from operations increased by 22.3 per cent to Rs 18,252.4 crore in the reported quarter from Rs 14,913.1 crore in the same period last fiscal, Wipro said in a regulatory filing.

Wipro - which gets the bulk of its topline from IT services - said it expects revenues from that unit to be in the range of $2,535 million to $2,583 million in the September 2021 quarter.

This translates into a sequential growth of 5-7 per cent.

Wipro's IT services segment revenue was at $2,414.5 million in the first quarter of FY22, a rise of 12.2 per cent quarter-on-quarter and 25.7 per cent year-on-year.

The company had given a guidance of 2-4 per cent growth in the June quarter.

"Despite the severe onslaught of the pandemic, we delivered our best-ever quarter, with secular growth across all SMUs, sectors and GBLs.

"Our sequential revenue growth of 12.2 per cent was well ahead of the top-end of our guidance range, both organically and with Capco," Wipro CEO and managing director Thierry Delaporte said.

Wipro remains focused on deepening its customer relationships, investing in talent and capabilities for the future, and winning market share, he added.

The company's IT services workforce crossed the milestone of the 2 lakh mark with the total headcount at 209,890. In June 2021, Wipro issued its first-ever dollar-denominated bond offering of $750 million with a 5-year tenor.

Photograph: PTI Photo