Wipro Q2 net up 7.9%

Bangalore: IT services major Wipro Ltd on Wednesday reported a 7.9 per cent growth in consolidated net profit at Rs 2,084.8 crore for the second quarter ended September 30, 2014.

The firm posted a net profit (after tax, minority interest and share of profit of associates) of Rs 1,932.1 crore in the year-ago period, it said in a statement. Net sales of the country’s third largest software services exporter rose by 7.5 per cent to Rs 11,816 crore in July-September quarter this fiscal from Rs 10,990.7 crore in the same quarter of 2013-14 fiscal, it added.

Commenting on the performance, Wipro Chairman Azim Premji said: “Business leaders in the US continue to exhibit increased confidence on growth prospects. Clients are increasingly looking to drive business value from their technology investments.”

He further said: “We are seeing positive sentiment in India with the confidence that the government is focused on driving an agenda of growth.”

The company said in the October-December quarter it expects revenues from IT services business to be in the range of $1.808-1.842 billion.

Wipro CEO T K Kurien said: “While the industry landscape is still undergoing change, we see multiple opportunity spaces for growth and gaining market share. The firm continues to execute our stated strategy of leveraging platforms for non-linear growth and creating differentiated solutions around the new technology paradigms.”

The IT Services segment had a headcount of 154,297 as of September 30, 2014. The firm added 50 new customers during the second quarter.