Wipro Q1 net rises 13% to Rs 2,387 crore

IT services company Wipro on Wednesday reported a 13% jump in its consolidated net profit at Rs 2,387 crore for the first quarter ended June 2019 compared to the corresponding quarter last year.

The Bengaluru-based IT major had registered a net profit of Rs 2,121 crore in the year-ago period. Its revenues showed a single-digit increase of 5.3%% to Rs 14,716.1 crore during the first quarter, compared with Rs 13,977.7 crore in the corresponding quarter last year.

Abidali Z. Neemuchwala, CEO and Executive Director said, “Our efforts on client mining have resulted in an addition of three customers in the more than $100 million bucket. We will continue to build differentiated capabilities to drive business transformation for our customers by investing in our big bets.”

The company’s shares closed down 35 paise at Rs 259.70 per share on BSE.