Business
Soaring High : Wipro Q1 Net Profit Rises 12 % To Rs 2,870 Crore
Image : Representational Purpose Only
Wipro posted a 12 per cent year-on-year rise in consolidated net profit at Rs 2,870 crore for the June quarter but the IT company missed analysts’ estimates as reduced discretionary spending by clients impacted its financial performance.
The software exporter’s guidance for IT services revenue for the September quarter is in the range of “-2 per cent to +1 per cent range”.
Wipro saw “robust deal closures” in the first quarter of this fiscal and in terms of total contract value, it closed large deal bookings at USD 1.2 billion, up by 9 per cent on year.
