Wipro sees green shoots in some verticals; net profit flat at Rs 2,390 cr

IT firm's margin expands despite revenue fall in Q1

Information technology (IT) IT services major Wipro on Tuesday reported a better-than-expected quarterly performance in Q1 of FY21, as its profitability improved despite contraction in revenues on a sequential basis.

According to Wipro, some of its verticals have started witnessing green shoots though the Bengaluru-headquartered company refrained from giving any guidance on revenue front for the second consecutive quarter.

In Q1, Wipro’s profit before tax (PBT) grew 0.75 per cent at Rs 3,095.3 crore, compared to Rs 3,072 crore reported a year ago. In sequential terms, it grew 4.4 per cent.

The net profit of the IT major grew by 0.11 per cent