Wipro Q2 Profit Drops 14% YoY
On Wednesday, Wipro has reported that the company has dropped in profit by 13.81 per cent YoY at Rs 1,889 crore for September quarter. This is lower than Rs 1,962 crore according to analysts.
In the same quarter last year, Wipro had reported Rs 2,191.80 crore profits.
Net sales of the company rose 8.32 per cent to Rs 14,541 crore compared with Rs 13423.40 crore in the corresponding quarter of last year.
On a sequential basis, IT services revenues rose 4.9 per cent to Rs 14,377 crore as against Rs 13,700 crore in the June quarter.
Ebit for the IT segment fell to Rs 2,100 crore in July-September from Rs 2,397 crore in April-June. Ebit margin at 14.6 per cent for the second quarter was lower than 17.4 per cent in the first quarter.