Wipro Q2 result: 5 key takeaways

IT services major Wipro Wednesday posted a 13.8 per cent decline in consolidated net profit at Rs 1,889 crore for the July-September quarter of 2018-19 compared to the year-ago period.

Here are top 5 key takeaways:

Gross Revenue was Rs 14540 crore

Wipro posted a 13.8 per cent decline in consolidated net profit at Rs 1,889 crore for the July-September quarter of 2018-19. Sequential and YoY revenue growth rates for the quarter ended September 30, 2018 are adjusted for the impact from the divestment of our hosted data center services business for the quarters ended June 30, 2018 and September 30, 2017.

IT Services Segment Revenue was Rs 14380 crore

Its revenue from operations, however, grew 8.3 per cent to Rs 14,541 crore during the period under review from Rs 13,423.4 crore in the same quarter last year. Wipro said it expected revenue from its key IT services business for the quarter ending Dec. 31 to be in the range of $2.03 billion to $2.07 billion. 

Net Income was Rs 1890 crore

The net profit, attributable to shareholders, in the year-ago period was at Rs 2,191.8 crore, according to a regulatory filing by Wipro. Expenses rose over 13 percent to Rs 12628 crore. 
 

EPS for the quarter was Rs 4.19 ($0.063 ) per share

EPS for the quarter was Rs 4.19 ($0.063 ) per share. IT Services Margin and EPS for the quarter ended September 30, 2018 includes a loss of Rs 5,141 million.

Former SBI chief Arundhati Bhattacharya joins Wipro board

Wipro, which gets bulk of its topline from IT services, said its board has approved the appointment of Arundhati Bhattacharya as an Additional Director.