iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

IT-Major Wipro reports ~21% decline in PAT at Rs2,563.60 crore in Q1FY23

21 Jul 2022 , 03:16 PM

Wipro Limited reported a fall of 20.60% in its Net Profit at Rs2,563.60 crore in the first quarter ended June 30, 2022, as compared to Rs3,232 crore in the previous corresponding quarter. It also witnessed a downfall of 16% in net profit against the previous quarter.

However, the company recorded a 17.90% yoy jump in revenue at Rs21,529 crore.

Company stated that the decline in net profit was due to increased investment and elevated employee costs, as well as a higher base in the previous year on account of a one-time settlement.

Despite macroeconomic headwinds, India’s fourth largest software services firm expects revenue to grow 3-5% sequentially, or between $2.82 billion and $2.87 billion, in the current July-September quarter, exceeding analysts’ expectations of 2.5-4.5%.

Operating margins fell 200 basis points sequentially to 15% due to wage increases and currency headwinds, as compared to 18.80% in the same quarter last year.

Revenue in the IT services segment was $2.74 billion, up 13.3% yoy and in line with expectations. In constant currency, the company grew by 2.1%, in line with the 1-3% sequential revenue growth it predicted for April-June.

At around 3.18 PM, Wipro Ltd’s counter was at Rs414 up by Rs1.8 or 0.44% from its previous closing of Rs412.20 on the BSE. 

Related Tags

  • Wipro Ltd Updates
  • Wipro news
  • Wipro results
  • Wipro Share
  • Wipro Stock
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.