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Representative Image: Reuters Beating Street expects the country's third-largest software company, Wipro, to post a 16.2% increase in net profits (quarter-on-quarter) on Friday for the period April-June. BFSI activity performance. The sale of the company's hosted data center services business to Ensono also is reflected in the results.
The company recorded a net profit of 2,093 crores while its consolidated revenues were 14,827 crores. The company's flagship computer services business revenue amounted to 13,700 crores of rupees
In terms of US dollars, IT services recorded a turnover of 2,026, $ 5 million, the highest level. The company gave guidance for the second quarter of the year in the range of $ 2,009 to $ 2,049 million. This translates into sequential growth of 0.3% to 2.3%, excluding the impact of the disposal of the hosted data center services business, which ended at the end of the year. During the quarter ended June 30, 2018.
Commenting on the performance, the CEO and board member, Abidali Neemuchwala, said: "We entered the 2019 fiscal year with some On the basis of the excellent execution of our team, we saw a recovery in our global business ahead of expectations and recorded growth of 0.1% in constant currency. "
" We have seen a recovery in spending in developed markets, particularly in North America and BFSI, "he added.
Wipro also announced a takeover of Alight Solutions' India operations. in the United States for $ 117 million. "This partnership Alight will enable Alight to accelerate its investments in consumer technologies and services in its health, wealth and cloud industries by leveraging Wipro 's core strengths in automation, business and technology. "machine learning and data badysis," Neemuchwala said. Digital business revenue grew 6.2% sequentially in constant currencies and contributed 28.1% of overall business revenue. The company has trained more than 97,000 employees in digital technologies.
"Wipro's results this quarter point to a clever tactic of" under-promise and over-delivery. "After initially lowering shareholder expectations on its performance in the first quarter of fiscal 2011, it seems have exceeded expectations, "said Sanjoy Sen, PhD researcher at Aston Business School, UK.
During the quarter, the company experienced a 17% attrition rate, a slight increase of 15.9% year-over-year.The company attributed this to the seasonality.The use was at a record high of 85.2% .Quading a question about hiring on campus , Wipro's president and chief human resources officer, Saurabh Govil, said that the company's hiring in the current fiscal year would be greater than that of the previous year. in the US The company continues to maintain strong location levels in continental Europe, in APAC and LATAM. In terms of vertical markets, the BFSI segment performed well during the quarter and experienced a sequential growth of 3.3%, while energy, natural resources and utilities recorded a sequential decline of 0.9%. Wipro added 75 new customers during the quarter and the top 10 accounts increased 0.5% quarter-on-quarter and 0.8% year-over-year.
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