Wipro Q1 net down 3.6% at Rs 2,188 cr q-o-q

Total revenue rises marginally to Rs 12,371 cr

Wipro, India’s third-largest information technology (IT) services company, reported 3.6% decline in net profit on sequential basis at Rs 2,188 cr for the quarter ended June 2015.

It was Rs 2,272 crore in the previous quarter ending March 2015.

Higher IT spending by global clients helped the software company to post quarterly profit broadly in line with forecasts.

The total revenue rose marginally to Rs 12,371 crore as against Rs 12,171 crore in the fourth quarter.

The EBIT margin was at 21% during the quarter while it was 22% in the previous quarter.

For the July-September 2015 quarter, Wipro expects its IT services revenues to be in the range of $1,821 million to $1,857 million.

The IT services segment had a headcount of 1,61,789 as of June 30, 2015, up from 158,217 in March this year with an addition of 3,572 people.

The company added 36 new customers during the quarter.

"On the Run side, deals are getting increasingly competitive and we are focussed on increasing the levels of automation," Wipro CEO and Member of Board T K Kurien said.

On the Change side, new stakeholders are influencing buying decisions in the digital space, he added.