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  Business   Companies  17 Oct 2017  Wipro Q2 net profit dips to Rs 2,143 crore

Wipro Q2 net profit dips to Rs 2,143 crore

PTI
Published : Oct 17, 2017, 5:48 pm IST
Updated : Oct 17, 2017, 5:48 pm IST

Revenues from IT services segment stood at USD 2.013 billion up 2.1 per cent sequentially.

Wipro's revenues from IT products segment was Rs 300 crore (USD 46 million) in the reported quarter.
 Wipro's revenues from IT products segment was Rs 300 crore (USD 46 million) in the reported quarter.

New Delhi: India's third largest software services firm Wipro on Tuesday said its consolidated net profit has declined marginally to Rs 2,143.2 crore for the quarter ended September 30, 2017.

This is against a net profit of Rs 2,163.6 crore in the July-September 2016 quarter as per Indian accounting norms (Ind AS), Wipro said in a BSE filing.

 

Wipro's total income slipped 1.8 per cent to Rs 14,134.8 crore in the quarter under review from Rs 14,407.3 crore in the year-ago period, it added.

Revenues from IT services segment, which accounts for a significant portion of the company's topline, stood at USD 2.013 billion, up 2.1 per cent sequentially. This was higher than the company's revenue guidance range of USD 1,962 million to USD 2,001 million.

"We surpassed the milestone of USD 2 billion in quarterly revenues for IT services on the back of rigorous execution of our strategy," Wipro CEO Abidali Z Neemuchwala said.

For the October-December 2017 quarter, the company expects revenues from the IT services business to be in the range of USD 2,014 million to USD 2,054 million.

 

Wipro's revenues from IT products segment was Rs 300 crore (USD 46 million) in the reported quarter.

The company saw its headcount coming down to 1,63,759 during the second quarter from 1,66,790 in the previous sequential quarter. Attrition stood at 15.7 per cent on trailing 12 months basis.  

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