Wipro reported a 12 per cent rise in its consolidated net profit to about Rs 2,870 crore for the June 2023 quarter.
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 a sequential guidance of -2 per cent to +1 per cent in constant currency terms,” the company said in a statement on Thursday.
Wipro CEO and Managing Director, Thierry Delaporte, said 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 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”.
Also read: Wipro records muted Q4, net down 0.4%
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Published on July 13, 2023
