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

NEW DELHI: IT services major Wipro on Wednesday posted a 17 per cent jump in its consolidated net profit for the second quarter ended September 30.
The company posted a net profit of Rs 2,930.6 crore, up 17.9 per cent, as against a profit of Rs 2,484.3 crore posted in the same quarter last year.
However, in terms of quarter on quarter result, the IT firm suffered a loss of 9.6 per cent. The contraction was mainly on account of wage hikes and amortidation charge on Capco acquisition.
In the previous quarter, Wipro had registered a profit of Rs 3,242.6 crore.
The consolidated revenue of Wipro increased by about 30 per cent to Rs 19,667.4 crore during the quarter compared to Rs 15,114.5 crore it registered in the corresponding quarter of 2020-21.
While, sequentially the rise in gross revenue was 7.6 per cent to Rs 19,761 crore.
“The Q2 results demonstrate that our business strategy is working well. We grew at over 4.5 per cent organic sequential growth for a second quarter in a row, resulting in a 28 per cent YoY growth in the first half of this financial year. I thank our customers, partners and colleagues as we surpassed the USD 10 billion milestone of annualised revenue run rate,” Wipro CEO and MD Thierry Delaporte said in a statement.

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