IT services company Wipro on Thursday reported a 12 per cent rise in its consolidated net profit to about Rs 2,870 crore for the June 2023 quarter.
Photograph: Abhishek N Chinnappa/Reuters
It had posted a consolidated net profit of Rs 2,563.6 crore in the year-ago period (Q1FY23).
Wipro’s income from operations in the June quarter increased 6 per cent to Rs 22,831 crore.
“We expect revenue from our IT Services business segment to be in the range of $2,722-2,805 million.
“This translates to sequen
tial guidance of -2 per cent to +1 per cent in constant currency terms,” the company said in a statement.
Wipro CEO and managing director Thierry Delaporte noted that the company’s first quarter results came on a strong backbone of large deal bookings, robust client additions and resilient margins.
“Despite a gradual reduction in clients’ discretionary spending, we maintained new business momentum.
“We earned our clients’ trust with strong delivery, innovation and expanded services that strengthen our long-term businesses, and help capture market share,” Delaporte said.
On the latest AI strategy, Delaporte said that the launch of Wipro ai360 and the $1 billion investment “solidifies Wipro’s position as a leading transformation partner that delivers the results and innovation our clients need to future-proof their businesses”.
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