noscript

News Hot Pursuit

 
Wipro Q2 PAT drop 9.6% QoQ to Rs 2,931 crore
13-Oct-21   16:21 Hrs IST

Revenue from operations increased by 7.8% QoQ to Rs 19,667.4 crore during the quarter.

As compared to Q2 FY21, the IT firm's net profit and revenue from operations in Q2 FY22 have risen by 18.9% and 30.1%, respectively.

Profit before tax in Q2 FY22 stood at Rs 3,756.5 crore, down by 3% from Rs 3,873.3 crore in Q1 FY22. Total tax expense increased by 32.1% QoQ to Rs 825.9 crore during the period under review.

In dollar terms, Wipro's gross revenue was $2.7 billion in the second quarter.

The IT Services segment revenue was at $2,580 million, an increase of 6.9% QoQ and and 29.5% YoY. The Non-GAAP constant currency IT Services segment revenue increased by 8.1% QoQ and 28.8% YoY.

The IT Services operating margin for the quarter was at 17.8%, down 104 bps on a sequential basis.

Thierry Delaporte, CEO and managing director, said, “The Q2 results demonstrate that our business strategy is working well. We grew at over 4.5% organic sequential growth for a second quarter in a row, resulting in a 28% YoY growth in the first half of this financial year.”

Jatin Dalal, chief financial officer said, “We sustained our operating margins in Q2 in a narrow band even after absorbing the full impact of our recent acquisitions and investing significantly in our business across sales, capabilities and talent. We completed a salary increase covering 80% of our colleagues, making it the second hike in this calendar year. We delivered a robust growth in EPS of 23.8% YoY.”

Wipro expects revenue from its IT Services business to be in the range of $2,631 million to $2,683 million. This translates to a sequential growth of 2% to 4%, the company said.

Wipro's IT Products segment revenue for the quarter was Rs 189.4 crore (up 44.5% QoQ and up 11.5% YoY). The segment recorded profit of Rs 9.4 crore in Q2 FY22. It had recorded a loss of Rs 5.3 crore in Q1 FY22 and a loss of Rs 30.1 crore in Q2 FY21.

The IT firm's India business from State Run Enterprises (ISRE) segment registered revenue decline of 3.6% to Rs 186.7 crore in Q2 FY22 over Q1 FY22. The segment's profit also declined 17.3% QoQ to Rs 39.3 crore during the period under review. While the segment's revenue has declined by 11.6%, net profit has increased by 3.6 times in Q2 FY22 as compared with Q2 FY21.

Wipro is a global information technology, consulting and business process services company.

The scrip rose 2.05% to end at Rs 672.55 on the BSE today.

Powered by Capital Market - Live News

Attention Investors:
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account. Prevent Unauthorized Transactions in your Demat account\Trading account: Update your Mobile Number with your Depository Participant\Exchange. Receive alerts on your Registered Mobile for all debit and other important transactions in your Demat account\Trading account directly from Depository\Exchange on the same day.........issued in the interest of investors.
The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time. The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.
Disclosure of Proprietary Account Trading by Members to Clients
Proprietary Trading Disclosure:In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchange and with reference to circular MCX/T&S/147/2016 dated May 17, 2016 regarding Disclosure of Proprietary Account Trading by broker to client.,Pursuant to SEBI Circular Number SEBI/MRD/SEC/Cir-42/2003 dated November 19, 2003 & SEBI/HO/CDMRD/DMP/CIR/P/2016/49 dated April 25, 2016 GOODWILL WEALTH MANAGEMENT PVT LTD. Discloses to its clients about its policies on proprietary trades.
Copyright © 2016 All rights Reserved GOODWILL
Designed, Developed and content powered by CMOTS Infotech ( ISO 9001:2015 certified )
Filing complaints on SEBI Complaint Redress System (SCORES)
– Easy & quick
  • Register on SCORES portal
  • Mandatory details for filing complaints on SCORES:
    • Name, PAN, Address, Mobile Number, E-mail ID.
  • Benefits:
    • Effective communication
    • Speedy redressal of the grievances.
You can file complaints on SCORES through https://scores.gov.in/scores/Welcome.html