Categories: Business

wipro q1 consolidated net profit flat at Rs 2390 crore

Photo: WIPRO

Wipro q1 result

new Delhi. Consolidated Net Profit of information technology company Wipro grew marginally to Rs 2,390.4 crore in the April-June quarter of the current financial year. Earlier, the company had a consolidated profit of Rs 2,387.6 crore in the same quarter of FY 2019-20. In the information given to the stock market, the company said that the total income of Wipro was Rs 15,571.4 crore for the quarter ended April-June 2020 as compared to Rs 15,566.6 crore in the same quarter of the previous financial year 2019-20. Wipro's operating income increased 1.3 percent to Rs 14,913.1 crore in the first quarter of 2020-21 from Rs 14,716.1 crore in the same quarter a year ago.

According to the company, there has been a slight improvement in income from IT services. However, EBIT margins have improved to 19.1 per cent, from 17.6 per cent in the March quarter and 18.4 per cent a year ago. During this time 42 new customers have been added. According to the company, due to the Corona crisis, customers have curbed their expenses, which has seen an impact on income and profits. Rishad Premji, chairman of Wipro, has said that no employees have been fired because of the Corona crisis, while there are no plans to remove any employees at the moment. However, he has talked about a plan to control expenses. He made it clear that the safety of the employees is the biggest priority at the moment and further planning will be done on this basis.

Along with this, the company has informed that they are acquiring Brazil-based company IVIA Servicos de Informatica Ltda for $ 2,24 million. The acquisition is expected to be completed in the September quarter.

This post was published on July 15, 2020 3:22 am

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