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Business Standard

Wipro's Q1 net profit declines 21% over acquisitions, talent cost

Despite a below-expectation showing, IT major expects double-digit growth in FY23

Topics
Wipro | IT firms | acquisition

Shivani Shinde  |  Mumbai 



Wipro
Photo: Shutterstock

IT major Wipro’s net profit declined during the recently concluded June quarter on both year-on-year (YoY) and sequential bases because of acquisitions, cost of talent, and taxes. While its net profit in Q1FY23 declined 21 per cent YoY to Rs 2,563.6 crore, the figure was down 16 per cent sequentially.

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First Published: Wed, July 20 2022. 20:04 IST

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