Wipro, India's third largest software exporter, today reported a rise of 7.90% on consolidated basis to Rs 20.85 billion for the quarter ended Sept. 30, 2014. On sequential basis, Wipro reported fall of 0.87% in quarterly profit.
Consolidated revenues for the quarter ended Sept. 30, 2014 went up by 7.51% y-o-y to Rs 118.16 billion.
IT services revenues in rupee terms was Rs 109.2 billion (USD 1793.1 million), an increase of 8.5% YoY. Angel Broking was expecting the company's IT services segment to post revenues of USD 1,780 million.
''We expect Revenues from our IT Services business to be in the range of USD 1,808 million to USD 1,842 million,'' the company said.
Azim Premji, chairman of Wipro, said, ''Business leaders in the US continue to exhibit increased confidence on growth prospects. Clients are increasingly looking to drive business value from their technology investments. We are seeing positive sentiment in India with the confidence that the Government is focused on driving an agenda of growth.''
On the other hand, T K Kurien, executive director & chief executive officer of Wipro, said, ''While the industry landscape is still undergoing change, we see multiple opportunity spaces for growth and gaining market share. We continue to execute to our stated strategy of leveraging platforms for non-linear growth and creating differentiated solutions around the new technology paradigms.''
Suresh Senapaty, executive director & chief financial officer of Wipro, said, ''In Q2, we continued to build on our leadership position in Infrastructure Services and continued the momentum of deal wins. During the quarter, the benefits of rupee depreciation were negated by the US Dollar's appreciation against other major currencies. We continued to drive productivity and improving operating levers even as the effect of salary hike on this quarter's operating margin was on expected lines.''
Shares of the company gained Rs 8.45, or 1.47%, to settle at Rs 581.70. The total volume of shares traded was 140,010 at the BSE (Wednesday).
