The result was announced after trading hours yesterday, 24 October 2018.

Meanwhile, the S&P BSE Sensex was down 278.59 points, or 0.82% to 33,755.37.

On the BSE, 1.82 lakh shares were traded in the counter so far compared with average daily volumes of 3.27 lakh shares in the past two weeks. The stock had hit a high of Rs 317.75 and a low of Rs 294 so far during the day. The stock hit a 52-week high of Rs 339.05 on 21 September 2018. The stock hit a 52-week low of Rs 253.50 on 6 June 2018.

On a consolidated basis, IT services revenues rose 4.9% to Rs 14,377 crore in Q2 September 2018 as against Rs 13,700 crore in Q1 June 2018.

For the quarter ending 31 December 2018, Wipro expects revenue from IT services business to be in the range of $2,028 million to $2,068 million. Comparable revenue excluding India PSU and India Government business for the quarter ended 30 September 2018 was $2,007 million. This translates to sequential growth outlook of 1.0% to 3.0%.

Abidali Z. Neemuchwala, CEO and member of the board said that Wipro has delivered a strong quarter on both revenue and margin growth. The firm won its largest deal to date and four of its Business Units grew over 4% sequentially in constant currency terms. The demand environment is robust, especially for digital transformation and enterprise scale modernization services.

Jatin Dalal, chief financial officer said that consistent improvement in the company's operating metrics reflects its relentless rigor of execution, which has resulted in its adjusted IT services margin reaching 18.1% in quarter. The company sees automation as a key lever to drive margins going forward.

Wipro is a leading global information technology, consulting and business process services company.

Powered by Capital Market - Live News

Net profit of Wipro declined 13.88% to Rs 1885.70 crore in the quarter ended September 2018 as against Rs 2189.60 crore during the previous quarter ended September 2017. Sales rose 8.33% to Rs 14541.00 crore in the quarter ended September 2018 as against Rs 13423.40 crore during the previous quarter ended September 2017.

Powered by Capital Market - Live News

Net profit of Wipro declined 24.69% to Rs 1607.40 crore in the quarter ended September 2018 as against Rs 2134.30 crore during the previous quarter ended September 2017. Sales rose 8.61% to Rs 12002.30 crore in the quarter ended September 2018 as against Rs 11050.50 crore during the previous quarter ended September 2017.

Powered by Capital Market - Live News

Wipro announced the launch of its Innovation and Talent Hub in Reading, reinforcing the company's commitment to develop talent and strengthen STEM skills in the United Kingdom.

The multifunctional hub will be a centre of excellence for 'Ascent', Wipro's talent development programme launched in 2017, to train UK-based computer science graduates and degree apprentices in digital technologies. To date, the programme has trained and placed 95 digitaltechnology graduates and 40 digital technology degree apprentices in client projects at Wipro, across the UK. The graduates are from multiple universities in the UK while Sheffield Hallam University is the learning provider for the apprentices who are studying for a Bachelor of Sciencedegree in digital technology.

In addition to 'Ascent', the hub will run work experience programmes for school leavers, internship programmes for university students, and training programmes for employees. It will also be the centre for Wipro's TopGear platform, which provides an opportunity for the company's employees across the UK to work on crowdsourcing-based technology challenges.

The hub will also provide a collaborative space for co-innovation and unique learning projects with clients.

In September, Wipro announced that it will partner with King's College London, to support the development of the first Master of Arts in STEM Education in the UK, and Sheffield Hallam University to offer the 'Wipro Teacher Fellowship' and 'Wipro Teacher Mentor' programmes.

Powered by Capital Market - Live News