Wipro Limited today announced financial results under International Financial Reporting Standards (IFRS) for its first quarter ended June 30, 2015.
Highlights of the Results for the Quarter ended June 30, 2015:
- Gross Revenues were `122.4 billion ($1.9 billion ), an increase of 10% YoY.
- Net Income2 was `21.9 billion ($344 million), an increase of 4% YoY.
- IT Services Segment Revenue was $1,794.1 million, a sequential increase of 1.1%
- Non-GAAP constant currency IT Services Segment Revenue in dollar terms grew 0.2% sequentially and grew 8.1% YoY
- IT Services Segment Revenue in Rupee terms was `115.8 billion ($1.8 billion), an increase of 10% YoY.
- IT Services Segment Results was `24.3 billion ($382 million), an increase of 1% YoY.
- IT Services Segment Margins was 21.0% for the quarter.
Performance for the quarter ended June 30, 2015 T K Kurien, Member of the Board & Chief Executive Officer of Wipro, said – “On the Run side, deals are getting increasingly competitive and we are focused on increasing the levels of automation, while on the Change side, new stakeholders are influencing buying decisions in the Digital space. On the Run side, we continued to win deals which deploy Wipro HOLMESTM, our Artificial Intelligence platform to drive down costs for our customers. On the Change side, we have announced the acquisition of Designit, one of the largest independent global strategic design firms. Designit’s design capabilities in synergy with Wipro’s scale in technology services will position Wipro uniquely in Digital, as an integrated design & technology player.”
Jatin Dalal, Chief Financial Officer of Wipro, said – “We continued to drive productivity and improve operating levers even as we invested for growth in people, process and IP. In the quarter, we maintained strong cash flow generation while operating margins were, on predictable lines, modestly lower due to employee compensation measures.”
Outlook for the Quarter ending September 30, 2015 We expect Revenues from our IT Services business to be in the range of $ 1,821 million to $ 1,857 million*. * Guidance is based on the following exchange rates: GBP/USD at 1.56, Euro/USD at 1.13, AUD/USD at 0.78, USD/INR at 63.86 and USD/CAD at 1.22 IT Services The IT Services segment had a headcount of 161,789 as of June 30, 2015.
