Signals, Powered By EquityPandit
Wipro Ltd posted a consolidated net profit of Rs. 1,889 crores for the second quarter of the current fiscal year, resulting in a 13.8 per cent decline as compared to the net profit of Rs. 2,191.8 crores during the year-ago July-September quarter.
According to a regulatory filing by Wipro, its revenue from operations grew 8.3 per cent to Rs. 14,541 crores during the September-end quarter of 2018-19 from Rs. 13,423.4 crores in the corresponding quarter of the previous year. Wipro’s dollar revenue improved 0.72% sequentially to $2.04 billion in the under review.
Abidali Z Neemuchwala, CEO of the company said, “Wipro has delivered a strong quarter on both revenue and margin growth. We won our largest deal to date and four of our business units grew over 4 per cent sequentially in constant currency terms. The demand environment is robust, especially for digital transformation and enterprise scale modernization services.”
Neemuchwala also added that the second quarter “has seen one of the highest quarter of order bookings and one of the highest pipelines we’ve ever had.” Jatin Dalal, Chief Financial Officer said, “Consistent improvement in our operating metrics reflects our relentless rigour of execution, which has resulted in our adjusted IT services margin reaching 18.1 per cent in quarter 2.”
In a separate filing released by Wipro, stated, ” the Board of Directors of the company at its meeting held on October 24, 2018, approved the appointment of Arundhati Bhattacharya as an Additional Director in the capacity of Independent Director for a term of five years with effect from January 1, 2019.”
The appointment of Arundhati Bhattacharya as an Additional Director by the board is subject to the approval of shareholders of the company, the statement added.
