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Wipro Q1 results: Wipro Q1 net profit rises 35.6% at Rs 3,243 crore


NEW DELHI: IT Services Specialization Wipro on Thursday it registered a 35.6 percent increase in its consolidated net profit for the first quarter ended June 30, the company reported in a regulatory document to the exchanges.
The company posted a profit of Rs 3,242.6 crore in the period considered versus Rs 2,390.4 crore posted in the same quarter last year.
In terms of quarter-over-quarter growth, Wipro posted a 9 percent increase in net profit of Rs 2,972 crore in the prior quarter.
Wipro expects revenue from the IT services business to be in the range of $ 2.535 million to $ 2.583 million. This translates into a sequential growth of 5% to 7%.
The company’s IT services workforce crossed the 2 lakh mark milestone with a total workforce of 2,09,890.
In June 2021, Wipro issued its first offering of $ 750 million dollar-denominated bonds with a 5-year term.
Commenting on the results, CEO and managing director of Wipro Thierry Delaporte He said: “Despite the severe onslaught of the pandemic, we achieved our best quarter ever, with secular growth across all SMUs, sectors and GBLs. Our sequential revenue growth of 12.2 percent was well ahead of the upper end of our guidance range, both organically and with Capco. ”
Its operating income increased by 22.3 percent to Rs 18,252.4 crore in the reported quarter from Rs 14,913.1 crore in the same period last fiscal year.
Jatin Dalal, Wipro CFO said: “We achieved strong EPS growth of 41% YoY, even as we continued to invest for growth. At 103.7 percent of our net income, our operating cash flows for the quarter remained healthy. I am also pleased to share that we have successfully issued our debut bond offering in international markets for $ 750 million. ”
(With inputs from agencies)

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