Wipro registered consolidated net revenue of Rs.13,697 crore as against Rs.13,741 crore qoq.
Wipro, one of the largest IT firms, announced its financial results for the quarter ended June 30, 2016 on July 19.
The consolidated Profit after tax (PAT) of the company stood at Rs. 2052 crore in Q1 FY17 as compared with Rs.2238 crore in Q4 FY16.
Wipro registered consolidated net revenue of Rs.13,697 crore as against Rs.13,741 crore qoq.
Changes to the Board of Directors
Dr Jagdish N Sheth retires from the Board with effect from July 18, 2016 on completion of his term. The Board places on record its sincere appreciation for the valuable contributions made by Dr Jagdish N Sheth as Board member and as a member of the Strategy Committee.
Vyomesh Joshi, Director resigns from the Board with effect from close of business hours of July 19, 2016, due to his other commitments.
The Board places on record its sincere appreciation for the valuable contributions made by Mr Vyomesh Joshi as Board member and as a member of the Strategy Committee.
The consolidated Profit after tax (PAT) of the company stood at Rs. 2052 crore in Q1 FY17 as compared with Rs.2238 crore in Q4 FY16.
Wipro registered consolidated net revenue of Rs.13,697 crore as against Rs.13,741 crore qoq.
Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board, said, “We have delivered Revenues in line with our guidance. Our early investments in areas such as our Digital practice and cognitive intelligence, notably Wipro HOLMESis positioning as the partner of choice for customers in the CHANGE side oftheir business. We expect the trajectory of growth to build gradually over the course of the year as we drive execution on our strategic themes and make progress towards achieving a sustainable growth trajectory”
Jatin Dalal, Chief Financial Officer, said – “IT Services margins reflect the investments in rewarding our employees as well as the impact of consolidation of our acquisitions for the full quarter. We continue to expand the reach of our automation programs to harness efficiency gains.”
Outlook for the Quarter ending September 30, 2016
We expect Revenues from our IT Services business to be in the range of $ 1,931 million to $ 1,950 million*.
IT Services
The IT Services segment had a headcount of 173,863 as of June 30, 2016. Acquisitions
Previously, Wipro had announced, on December 23, 2015, the signing of a definitive agreement to acquire Viteos Group. However, due to inordinate delays in completion of closing conditions that exceeded the target closing date and expiration date under the terms of the agreement, both parties have decided not to proceed ahead with the acquisition.Changes to the Board of Directors
Dr Jagdish N Sheth retires from the Board with effect from July 18, 2016 on completion of his term. The Board places on record its sincere appreciation for the valuable contributions made by Dr Jagdish N Sheth as Board member and as a member of the Strategy Committee.
Vyomesh Joshi, Director resigns from the Board with effect from close of business hours of July 19, 2016, due to his other commitments.
The Board places on record its sincere appreciation for the valuable contributions made by Mr Vyomesh Joshi as Board member and as a member of the Strategy Committee.
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