Wipro net declines 7.7�n Q2

Wipro net declines 7.7�n Q2

Submitted by alvin on Fri, 2016-10-21 18:16 Bengaluru: Software major Wipro Ltd on Friday reported consolidated net profit of Rs 2,074 crore for the second quarter (July-September) of fiscal 2016-17 -- registering 7.7 per cent decline from Rs 2,246 crore in same period year ago. In a regulatory filing to the stock exchanges, the IT firm said consolidated revenue for the quarter under review (Q2), however, increased 10 per cent to Rs.13,766 crore from Rs.12,514 crore in like period year ago. In dollar terms, net income was $313 million and revenue $2,068 million ($2.1 billion), including $1,916 million ($1.9 billion) from services, which is 4.6 per cent up year-on-year (YoY) but flat (0.8 per cent) sequentially. In rupee terms, IT services revenue grew 9 per cent YoY to Rs 13,140 crore. Gross profit from IT services segment declined 5 per cent YoY to Rs 2,340 crore ($352 million) and operating margin remained flat at 17.8 per cent.