Wipro net plunges 21% yearly in Q4

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Bengaluru, April 25 (IANS) Global software major Wipro Ltd on Wednesday reported Rs 1,801 crore consolidated net profit for fourth quarter of fiscal 2017-18, registering 21 per cent annual decline from Rs 2,267 crore in the same period last year.

In a regulatory filing on the BSE, the city-based IT firm said consolidated revenue for the quarter under review (Q4) also declined, albeit marginally by 1.6 per cent, to Rs 13,769 crore from Rs 13,988 crore in the same period the year ago.

Under the International Financial Reporting Standards (IFRS), net income is $277 million and gross revenue $2,115 million for the quarter.

IT services contributed $2,062 million, posting 2.4 per cent sequential and 5.5 per cent annual growth in dollar terms and Rs 13,410 crore in rupee terms, up 1.3 per cent sequentially from quarter ago.

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–IANS

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