Wipro Q2 net profit rises nearly 18%; revenue up 30%


NEW DELHI: Leading IT services company Wipro posted a 17% increase in consolidated net profit for the second quarter ending September 30 on Wednesday.
The company posted a net profit of Rs 2,930.6 crore, an increase of 17.9 percent, compared to a profit of Rs 2,484.3 crore recorded in the same quarter last year.
However, in terms of quarter-over-quarter results, the IT company suffered a 9.6 percent loss. The contraction was primarily due to salary increases and the amortization charge on the Capco acquisition.
In the previous quarter, Wipro had posted a profit of Rs 3,242.6 crore.
Wipro’s consolidated revenue increased by approximately 30 percent to Rs 19,667.4 crore during the quarter compared to Rs 15,114.5 crore it posted in the corresponding 2020-21 quarter.
Whereas, sequentially, the increase in gross income was 7.6 percent to Rs 19,761 crore.
“Second quarter results demonstrate that our business strategy is working well. We grew at more than 4.5% sequential organic growth for the second consecutive quarter, resulting in 28% year-over-year growth in the first half of this financial year. I am grateful to our customers, partners and colleagues as we passed the milestone of $ 10 billion annualized revenue execution rate, “Wipro CEO and CEO Thierry Delaporte said in a statement.

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