Wipro's September Quarter Profit Falls To Rs 2,930 Crore
NDTV
Wipro witnessed a fall in its net profit for the second quarter of 2021-22, which at Rs 2,930 crore was lower than Rs 3,242 crore of June quarter
Information Technology (IT) major Wipro witnessed a fall in its net profit for the second quarter of 2021-22, which at Rs 2,930 crore was lower than Rs 3,242 crore of the June quarter of the current fiscal.
The quarter on quarter fall was mainly due to contraction in the company's margins after effecting a wage hike and ammortisation charges on Capco's acquisition.
Wipro had wrapped up the acquisition of London-based The Capital Markets Company (Capco) for $1.45 billion in April 2021. Capco is a consultancy firm in the banking and financial services sector.
Revenues from IT services increased to Rs 19,760 crore in the September quarter, vis-à-vis that of Rs 18,252.4 crore recorded in the previous quarter.
