Wipro Limited today announced financial results under International Financial Reporting Standards (IFRS) for its quarter ended September 30, 2017.
Highlights of the Results
- Gross Revenues of Wipro Limited were ₹134.2 billion ($2.1 billion1).
- IT Services Segment Revenues in dollar terms were $2,013.5 million, an increase of 2.1% sequentially (Non-GAAP constant currency increase of 0.3% sequentially) and 5.1% YoY (Non-GAAP constant currency increase of 2.8% YoY).
- IT Services Segment Profits2 were ₹22.8 billion ($349 million1), an increase of 4.0% sequentially.
- IT Services Margin for the quarter was 17.3%, as compared to 16.8% for the quarter ended June 30, 2017.
- Net Income3 for the quarter was ₹21.9 billion ($336 million1), an increase of 5.5% sequentially and 6.0% YoY. Performance for the quarter ended September 30, 2017
“We surpassed the milestone of $2 billion in quarterly revenues for IT Services on the back of rigorous execution of our strategy.” said Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board. “Our unique Digital capabilities powered growth in top clients and position us well to drive our clients’ digital transformation.”
“Productivity gains generated by our HOLMES automation suite and operational efficiencies overcame the incremental impact of wage hikes and expanded IT Services margin to 17.3%.” said Jatin Dalal, Chief Financial Officer.
Outlook for the Quarter ending December 31, 2017
We expect Revenues from our IT Services business to be in the range of $2,014 million to $2,054 million*.
* Guidance is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.19, AUD/USD at 0.81, USD/INR at 64.26 and USD/CAD at 1.23.
To view the original press release and full financial results, please click here.
