Millennium Post

Wipro Q2 net up 24 pc to Rs 1,610.6 cr

Wipro on Friday reported a jump of 23.8 per cent in consolidated net profit to Rs 1,610.6 crore for the second quarter ended 30 September.Last year, the software major had posted a net profit of Rs 1,300.9 crore in the second quarter, as per international accounting standards.

Total income from operations during the reporting quarter stood at 10,620.3, against Rs 9,064.5 crore in the July- September period of last fiscal, an increase of 17.16 per cent.

‘We have chartered a new course for Wipro by demerging our diversified Non IT businesses. I am confident that the demerger will enhance value for all our stakeholders and provide fresh momentum for growth for each of our businesses,’ Wipro chairman Azim Premji said in a statement.

Wipro on Thursday had said it will demerge its non-IT businesses like consumer care and lighting into a new company, a move which will allow it to focus exclusively on information technology.

The new unlisted firm will be called Wipro Enterprises and will include Wipro Consumer Care and Lighting (including furniture business), Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product and Services business.

Revenues from IT services during the reported quarter stood at USD 1,541 million, a sequential increase of 1.7 per cent and year-on-year increase of 4.6 per cent.
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