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Wipro Q1 profit marginally up

New Delhi: IT company Wipro on Tuesday posted a marginal increase in consolidated profit to Rs 2,390.4 crore for the quarter ended on June 30, 2020.

The company had posted a consolidated profit, attributable to equity holders, of Rs 2,387.6 crore in the same period a year ago.

"Profitable growth will be the most important priority on my agenda. We will start it from the time of booking new contracts. I am confident that we will be able to deliver long-term, sustainable growth in the interest of all our stakeholders," Wipro CEO and Managing Director Thierry Delaporte told reporters.

Total income of Wipro was almost flat at Rs 15,571.4 crore at the end of the first quarter of 2020-21 compared to Rs 15,566.6 crore in the corresponding quarter of the fiscal year 2019-20.

"We have committed Rs 100 crore towards COVID. It is a very specific CSR initiative, working very closely with Azim Premji Foundation which sort of combines total kitty of Rs 1,125 crore. Of this, Rs 100 crore is also sitting in P&L," Wipro chief financial officer Jatin Dalal said.

Talking about the factor that impacted the performance of the company, Dalal added that the company had a share buy-back programme in September and the performance should be seen from earning per share basis which has increased by 5.7 per cent on year-on-year basis.

The company also gained due to a decline in the value of rupee during the quarter.

The consolidated income from the operation of the company increased by 1.3 per cent to Rs 14,913.1 crore during the reported quarter from Rs 14,716.1 crore in the corresponding quarter of 2019-20.

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