Wipro Q1FY21 consolidated net up 0.1% YoY

Wipro on Tuesday posted a 0.11 per cent year-on-year (YoY) increase in its consolidated net profit at Rs 2,390.4 crore for the quarter ended June 2020 (Q1FY20-21). The company had reported a profit of Rs 2,387.6 crore in the year-ago period. There is a rise of 2.76 per cent. It was the first report announcement by the company under its new CEO, Thierry Delaporte. Thierry Delaporte took charge as the CEO of the Wipro earlier this month.

Revenue for the period came in at Rs 14,913.1 crore (1.33 per cent) against Rs 14,716.1 crore in the last year period. On a sequential basis, numbers declined 5 per cent.

Wipro’s IT Services segment revenue stood at $1,921.6 million, a decrease of 5.7 per cent YoY. Non-GAAP constant currency IT Services Segment Revenue decreased by 4.4 per cent YoY. Earnings per share (EPS) for the quarter was at Rs 4.20, up 5.7 per cent YoY.

“The conditions caused by the Covid-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance,” said the company in a release.

“Our operations may also be negatively affected by a range of external factors related to the Covid-19 pandemic that are not within our control,” it added