Wipro Q2 net profit rises 19% to ₹2,930.7 cr.

Revenue crosses $10 bn run rate: CEO

IT services provider Wipro Ltd. reported second-quarter consolidated net profit rose 18.9% to ₹2,930.7 crore.

Revenue increased 30.1% to ₹19,760.7 crore. IT services, which contribute more than 95% of Wipro’s total income, rose 29.5% to $2.58 billion for the September quarter, a 6.9% sequential increase.

“The Q2 results demonstrate that our business strategy is working well,” said Thierry Delaporte, CEO and MD. “We grew at over 4.5% organic sequential growth for a second quarter in a row, resulting in a 28% YoY growth in the first half of this financial year.

“We surpassed the $10 billion milestone of annualized revenue run rate. The majority of our growth is volume-led and the demand environment remains very strong. Our pipeline is one of the highest in recent quarters with many mid and small size deals,’’ he said. “We’ve experienced secular growth across all markets, sectors and businesses,” Mr. Delaporte added.

Mindtree net jumps

Smaller rival Mindtree reported a 57.2% jump in net profit to ₹398.9 crore. Revenue rose 34.3% to ₹2,586.2 crore in the quarter.

The firm said it had 263 active clients. Its attrition rate stood at 17.7%.