Wipro Posts 4 Percent Jump in Q1 Net Profit; Adds New Clients

India’s third-largest software services firm, Wipro, on Thursday posted four percent growth in its net profit at Rs. 2,187.7 crores for the quarter ended June 30, 2015.

The company had reported a net profit of Rs. 2,103.2 crores in the year-ago period, Wipro said in a statement.

Its total income rose 10.5 percent to Rs. 12,894.8 crores for the said quarter from Rs. 11,669.4 crores in the April-June 2014 quarter.

The firm’s IT services revenues, which account for a dominant chunk of the city-based firm, saw a sequential growth of 1.1 percent to $1.79 billion in the said quarter, meeting its revenue guidance of $1,765 million to $1,793 million.

For the July-September 2015 quarter, Wipro expects its IT services revenues to be in the range of $1,821 million to $1,857 million.

The IT services segment had a headcount of 161,789 as of June 30, 2015, up from 158,217 in March this year with an addition of 3,572 people.

The company added 36 new customers during the quarter. “On the Run side, deals are getting increasingly competitive and we are focused on increasing the levels of automation,” Wipro CEO and Member of Board T K Kurien said.

On the Change side, new stakeholders are influencing buying decisions in the digital space, he added.

Source-NDTV