Wipro Q1 consolidated net profit marginally up at Rs 2,390 crore

The company had posted a consolidated profit, attributable to equity holders, of Rs 2,387.6 crore in the same period a year ago.

Wipro Q1 consolidated net profit marginally up at Rs 2,390 crore

New Delhi: IT company Wipro on Tuesday posted a marginal increase in consolidated net profit to Rs 2,390.4 crore for the quarter ended on June 30, 2020.

The company had posted a consolidated profit, attributable to equity holders, of Rs 2,387.6 crore in the same period a year ago.

Total income of Wipro was almost flat at Rs 15,571.4 crore in the April-June quarter compared to Rs 15,566.6 crore in the same quarter of the last financial year, the company said in a BSE filing.

The consolidated income from operation of the company increased by 1.3 percent to Rs 14,913.1 crore during the reported quarter from Rs 14,716.1 crore in the corresponding quarter of 2019-20.

IT Services Operating Margin for the quarter was at 19.0 percent, an expansion of 0.6 percent Year on Year while earnings per share for the quarter was at Rs 4.20, an increase of 5.7 percent Year on Year, Wipro said.

Thierry Delaporte, CEO and Managing Director said, “I am deeply honored to lead Wipro, an extraordinary company and an exemplary corporate citizen with a deep technology heritage built on a strong foundation of values. I have great respect for the work done by the Azim Premji Foundation, its 67% economic ownership of Wipro adds greater meaning to what we do. Profitable growth will be the most important priority on my agenda. I am confident that we will be able to deliver longterm, sustainable growth in the interest of all our stakeholders.”

Shares of Wipro closed at Rs 225.05 apiece, down by 1.1 per cent compared to the previous close, on BSE.