Wipro Q2 net profit rises 19% to Rs 2,931 cr

IT services major Wipro on Wednesday reported 19% YoY rise in consolidated net profit at Rs 2,931 crore for the quarter ending September 2021. 

Consolidated revenue rose 30% on an annual basis at Rs 19,670 crore. 

IT services segment revenue was at $2,580 million, an increase of 6.9% QoQ and 29.5% YoY. IT services operating margin for the quarter was at 17.8%, a decrease of 104 bps QoQ. The company said the IT services segment added 116 new customers in September quarter. The headcount of IT services segment stands at 221,365 as of September-end.

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. I thank our customers, partners, and colleagues as we surpassed the $10 billion milestone of annualized revenue run rate.”

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."

On Wednesday, the company's scrip on NSE closed 2% higher at Rs 672.35.