Wipro posts lower net profit in Q2

Chennai, Oct 12 Software major Wipro Ltd closed the second quarter with a lower net profit of Rs 2,659 crore on a higher revenue.

According to the company, it had earned revenue of Rs 22,539 crore for the quarter under review up from Rs 19,667 crore earned for the period ended September 30, 2021.

Wipro had earned a net profit of Rs 2,659 crore for the period ended September 30, 2022, down from Rs 2,930 crore logged for the quarter ended September 30, 2021.

The company's employee count in the IT services increased to 259,179.

"Our strong performance in the quarter is further proof that our strategy is yielding the intended results. The solid growth in our bookings, large deal signings, and revenues underscore our improved market competitiveness and enhanced value proposition," CEO and Managing Director Thierry Delaporte said.

"We expect revenue from our IT services business to be in the range of $2,811 million to $2,853 million. This translates to a sequential growth of 0.5 per cent to 2.0 per cent," Wipro said.