Wipro Q2 profit up by 17% to Rs. 2,930.6cr

New Delhi: IT company Wipro posted a 17 per cent jump in consolidated net profit to Rs 2,930.6 crore for the quarter ended on September 30, 2021. The company had posted a net profit of Rs 2,484.4 crore in the same period a year ago. Wipro said that it has surpassed $10 billion (around Rs 75,300 crore) annualised revenue run rate and is in position to hire 25,000 people in the next financial year. The company is also resuming work back from office in a staggered manner starting with fully vaccinated senior colleagues in India. Consolidated revenue of Wipro increased by about 30 per cent to Rs 19,667.4 crore during the quarter compared to Rs 15,114.5 crore it registered in the corresponding quarter of 2020-21.

"The Q2 results demonstrate that our business strategy is working well. We grew at over 4.5 per cent organic sequential growth for a second quarter in a row, resulting in a 28 per cent YoY growth in the first half of this financial year. I thank our customers, partners and colleagues as we surpassed the $10 billion milestone of annualised revenue run rate," Wipro CEO and MD Thierry Delaporte said. The IT services segment revenue increased by 29.5 per cent on a year-on-year basis to Rs 19,378.38 crore ($2,580 million). Delaporte said the demand environment is healthy and Wipro's revenue is expected to grow 2-4 per cent in the next quarter which will translate into 27-30 per cent growth in the constant current terms on YoY basis. According to Wipro's outlook, revenue from IT services are expected to be in the range of Rs 19,500 crore to Rs 19,889 crore in the October-December quarter.