PTI
MUMBAI
Country’s third largest software services firm Wipro on Friday reported 7.6 per cent decline, year-on-year, in consolidated net profit at Rs. 2,070.4 crore for the September quarter of the current financial year.
Stating that it foresees a “mixed” demand environment, Wipro said it expects its IT service revenue for the October- December quarter of 2016-17 to be in the range of $1,916 million to $1,955 million.
With IT services revenue at $1,916 million in the September quarter, Wipro missed its guidance of $1,931 million to $1,950 million given at the beginning of the quarter. “As we look forward, the demand environment is mixed in a seasonally weak quarter affected by furloughs and lower number of working days,” Wipro Chief Financial Officer Jatin Dalal said in a statement.
The Mumbai-based firm had posted a net profit (after tax, minority interest and share of profit of associates) of Rs. 2,241 crore in the year-ago period.
Total income from operations rose by 10.5 per cent to Rs. 13,897 crore in July-September quarter of this fiscal from Rs. 12,567 crore in the same period a year ago, it added.
The IT services segment had a headcount of 174,238 as of September 30, 2016.
Wipro’s IT products segment delivered revenue of Rs. 770 crore ($115 million) in the reported quarter.
