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India’s third largest software exporter has reported profits of Rs 2,093.6 crore, a 0.53 per cent rise when compared to the same period last year, when it posted 2,082.4 crore.
Revenues came in at Rs 13,977.7 crore, a 2.58 per cent increase in the first quarter, when compared to Rs 13,626.1 crore it posted in the year-ago period. The company’s revenue guidance for its IT Services business was in the range of $2,009 million to $2,049 million, or a sequential growth of 0.3- 2.3 per cent, excluding the impact of the divestment of its hosted data centre services business, which concluded in the quarter ended June 30, 2018, the company said.
The IT Services segment revenue in dollar terms came in at $2,026.5 million, up 1.7 per cent sequentially and 2.8 per cent on a yearly basis. In rupee terms, the IT services segment’s revenue came in at Rs 13,700 crore, up 2.2 per cent on a sequential basis and 2.8 per cent on a yearly basis.
In the quarter ended March, Wipro had guided revenues in the range of minus 2-0 per cent. The company declared its results after market hours. Further, the IT Services margin for the quarter was 17.2 per cent. The Wipro stock closed marginally down at Rs 283.05 in the stock exchanges.
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