Wipro Q2 profit drops 13.8% to Rs 1,889 cr
New Delhi/Bengaluru, October 24
IT services major Wipro on Wednesday posted a 13.8 per cent decline in consolidated net profit at Rs 1,889 crore for the July-September quarter of 2018-19 compared to the year-ago period.
The net profit, attributable to shareholders, in the year-ago period was at Rs 2,191.8 crore, according to a regulatory filing by Wipro. Earnings per share for the quarter was Rs 4.19. Its revenue from operations, however, grew 8.3 per cent to Rs 14,541 crore during the period under review from Rs 13,423.4 crore in the same quarter last year.
Wipro, which gets bulk of its topline from IT services, said the IT services segment revenue was at Rs 14,380 crore. After adjusting the impact from the divestment of its hosted data centre services business, Wipro’s IT services segment revenue was up 6.2 per cent sequentially and 10.4 per cent year-on-year in rupee terms. — PTI
SBI ex-chief Arundhati joins Wipro board
Former SBI chairperson Arundhati Bhattacharya has joined the Wipro board as an independent director for five years, with effect from January 1, 2019, the IT firm said on Wednesday. It comes within days after Reliance Industries appointed her independent additional director. “I am confident that her knowledge about financial services and expertise in driving operational transformation will benefit Wipro,” its Chairman Azim Premji said.
