Wipro expects better results: quarterly net profit rises 36% to Rs 2561 crore

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(Commerce Rep) Mumbai, Ta. October 15, 2019, Tuesday

IT-Software Services giant Wipro Limited announced good results for the second quarter ended September 1, 2016. On a consolidated basis, the company's net profit increased by 8% to Rs 1.8 crore, compared to Rs 1.8 crore in the same period last year.

Total revenue has increased by four per cent to Rs. The IT services segment increased its revenue by 5.5 percent to $ 8 million. This is an increase of 8.5% compared to the first quarter of this year.

Profit margin increased by 8.5%. The company estimates revenues for the third quarter from $ 8 million to $ 8 million in the range of 5.5 percent to 5.5 percent. Analysts estimate the revenue to be around Rs 1 to Rs 5 crore.

Wipro has completed the buyback of 8.5 million shares, for which cash outlay of Rs. Operating margin for the IT Services segment has increased by 8.5 percent to 8.2 percent.

Abidli Z., CEO and Managing Director of Wipro. About the result, Nimchwala said, "The company has done a good quarter in terms of both revenue and margins."

With seven verticals out of seven industry verticals, the company has done well on a yearly basis and achieved a great deal in India.

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