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Country’s third largest software services firm Wipro on Wednesday reported a 7.2% growth in consolidated net profit at Rs 2,235.4 crore for the second quarter ended September 30, 2015.
The city-headquartered firm had posted a net profit (after tax, minority interest and share of profit of associates) of Rs 2,084.8 crore in the year-ago period, the IT firm said in a statement.
Net sales rose by 6.3% to Rs 12,566.8 crore in July-September quarter this fiscal from Rs 11,816 crore in the same period a year ago, it added.
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In dollar terms, the revenue from IT services registered a quarter-on-quarter growth of 2.1% at $1.83 billion, in line with its guidance of $1.82 million to $1.85 million.
For the October-December 2015 quarter, Wipro said it expects revenues from IT services business to be in the range of $1,841 million to $1,878 million.
Commenting on the performance, Wipro chief executive officer TK Kurien said, “During the quarter, we grew IT services revenues in dollar terms by 3.1% in constant currency and maintained margins in a narrow range.”
The IT services segment added 6,607 people to take the total headcount to 1,68,396 employees as of September 30, 2015. The firm added 67 new customers during the quarter.
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“Our investments in next-gen delivery practices generated productivity to significantly mitigate the impact of wage hikes and utilisation on operating margins,” Wipro chief financial officer Jatin Dalal said.
The impact of cross-currency on operating margins was compensated by the benefits from rupee depreciation, he added.
Wipro’s IT products segment delivered revenue of Rs 540 crore ($83 million) in the reported quarter.