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Wipro 's first quarter consolidated profit declined 3.7 percent sequentially to Rs 2,187.7 crore on lower other income and higher finance cost. However, quarterly revenue met street expectations. Revenue from IT services grew by 3 percent quarter-on-quarter to Rs 11,577 crore and dollar revenue increased by 1.1 percent to USD 1.79 billion. According to analysts polled by CNBC-TV18, revenue was estimated at Rs 11,331 crore and dollar revenue at USD 1.78 billion for the quarter. Dollar revenue growth in constant currency was 0.2 percent, which was within the company's guidance (0.5 percent degrowth to 1 percent growth over March quarter). On year-on-year basis, the growth was 8.1 percent. Dollar revenue growth was lower than its peers TCS (3.5 percent) and Infosys (4.4 percent) for the quarter. Wipro expects its IT services dollar revenue to be in range of USD 1.82-1.85 billion in July-September quarter of FY16, a growth of 1.5-3.5 percent over June quarter, which was in line. TK Kurien, chief executive officer, Wipro said, "On the run side, deals are getting increasingly competitive and we are focussed on increasing the levels of automation." "On the change side, new stakeholders are influencing buying decisions in the digital space," he added. The company added 36 new customers in Q1 for IT services, taking the total to 1,071 customers. It has a headcount of 1,61,789 employees at the end of June 2015. Kurien expects growth momentum to continue in Q2, adding H2FY16 will be better than H1. He said growth in energy and healthcare businesses, which fell 1.1 percent and 3.2 percent Q-o-Q in Q1, should be returned in second quarter. According to him, energy business has bottomed out. He further said Europe business hit (down 1.9 percent) by energy specific accounts and structural slowness was seen in telecom equipment spend in Europe, adding manufacturing and hitech segment saw robust growth (2.6 percent) in Q1. Revenue from America increased by 2.8 percent and Asia Pacific up 1 percent. Global infrastructure services business grew by 1.6 percent while consulting business fell 4.5 percent. Kurien said parts of consulting business would be shut down which do not make strategic sense. Consolidated total income from operations during the quarter grew by 1.6 percent to Rs 12,370.3 crore in the quarter ended June compared to Rs 12,171.4 crore in March quarter. Earnings before interest and tax (EBIT) fell by 2 percent sequentially to Rs 2,428 crore and margin declined by 100 basis points to 21 percent during the quarter due to staff compensation. Analysts had estimated EBIT at Rs 2,417.5 crore and margin at 21.33 percent for the quarter. "We continued to drive productivity and improve operating levers even as we invested for growth in people, process and intellectual property (IP)," Jatin Dalal, CFO said. Wage hike will have 2-month long impact in Q2," he added. Other income declined 4.3 percent quarter-on-quarter to Rs 524.2 crore while finance cost rose by 41 percent to Rs 128.6 crore in the quarter gone by. Additionally, Wipro Digital, the digital business unit of Wipro, announced its intention to acquire Denmark-based Designit on July 9. The scrip of Wipro (which announced earnings after market hours) was quoting at Rs 585.35, up Rs 8.35, or 1.45 percent on the Bombay Stock Exchange

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