Wipro: Net income grew by 12.6 per cent YoY

The company posted positive financial results for the June quarter with growth in its net income by 12.6 per cent YoY to Rs. 23.9 billion and EPS was Rs. 3.97 per share which increased by 12.5 per cent YoY, on Wednesday.

For Q1FY20, the company's gross revenue was at Rs. 147.2 billion with an increase of 5.3 per cent YoY. Wipro’s IT services segment has recently received large deals including multi-year technology and operations transformation contracts which has resulted into the segment posting a growth by 4.3 per cent YoY in its revenue of US$ 2,038.8 million for the last quarter of FY20. The operating margin of the segment for the quarter was 18.4 per cent with an increase of 0.8 per cent YoY.

The company earned a net profit of Rs. 24,021 million for Q1FY20 which is an increase of 14.74 per cent compared to the net profit of Rs. 20,936 million in Q1FY20. Thus we see positive growth in the financial performance of the company.

Wipro Limited (Wipro) is engaged in global technology (IT), consulting and business services. It is a blue-chip company with a market cap of Rs. 1,56,738.29 crore.

On Wednesday, the stock of the company closed at Rs. 259.70 per share, a decrease by 0.13 per cent or Rs. 0.35 per share. The 52-week high is Rs. 301.55 and 52-week low is Rs. 197.93 on BSE.