Wipro net up 7 percent in second quarter

Bengaluru, Oct 21 (IANS) Software major Wipro Ltd has posted a net profit of Rs,2,240 crore for the second quarter (July-September) of this fiscal (2015-16), registering seven percent year-on-year (YoY) growth as per the Indian accounting standard.

In a regulatory filing on Wednesday, the IT bellwether said revenue from IT services and products also grew seven percent (YoY) to Rs.12,510 crore for the quarter (Q2) under review, as per the Indian financial reporting system.

Under the International Financial Reporting Standard (IFRS), net income was $341 million and total revenue $1.9 billion for Q2.

The company’s global IT services revenue grew 10 percent YoY and 2.1 percent sequentially to $1,832 million ($1.8 billion) under IFRS and Rs.12,040 crore during the quarter, with an operating margin of 20.7 percent.

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