Wipro records gross revenue of Rs 215.3 billion in Q1

Bengaluru, July 20 (SocialNews.XYZ) Leading technology services and consulting company, Wipro, on Wednesday announced it registered a gross revenue of Rs 215.3 billion ($2.7 billion), an increase of 17.9 per cent YoY, in Q1.

In its financial results, announced under International Financial Reporting Standards (IFRS) for the first quarter ended June 30, the IT services segment revenue was at $2,735.5 million, an increase of 13.3 per cent, while Non-GAAP2 constant currency IT Services segment revenue increased by 2.1 per cent QoQ and 17.2 per cent YoY.

Net Income for the quarter was Rs 25.6 billion and earnings per share for the quarter was at Rs 4.69 ($0.061).

"Our closing strength of employees for IT services was at 258,574, an increase of 15,446 QoQ Performance for the quarter ended June 30," CEO and Managing Director Thierry Delaporte said.

"We have made significant investments in Wipro's growth engine and are very pleased with the outcomes. Our order bookings grew 32 per cent YoY in Total Contract Value terms, powered by large transformational deals, and our pipeline today is at an all-time high. We continue to reinforce the investments that allow us to grow our business, remain agile in the market and efficient as an organization, while staying focused on serving our clients even better," he said.

Chief Financial Officer Jatin Dalal said: "We are consistently investing in solutions and capabilities for our growth to further strengthen our position of being a strategic partner for our clients. At 15 per cent of operating margins, we believe that we have bottomed out."

Source: IANS