Wipro had announced earlier this year that it would reorganize its technology business into industry-focused units, and would have divisions devoted to banking and financial services, healthcare, and media and telecommunications among others.
The Chairman Azim Premji said, We are seeing early signs of positive momentum after the re-organization. Clients continue to focus on optimizing operations, creating new products and getting access to newer marketets.
Wipro Wednesday beat analysts expectations as consolidated net profit for the first quarter rose 1.3% from a year ago to Rs 1,335 crore. Consolidated Net sales for the three-month period were up 18.3% to Rs 8,564 crore. On a sequential basis, net profit was down 2.9%, while revenue was up 3%.
Analysts on average were expecting Wipro to report net profit of Rs 1,327 crore on revenue of Rs 8,406 crore in April-June.
The executive director and chief financial officer Suresh Senapaty said, We have maintained our operating margins in the current quarter despite one month impact of salary revision,
The company added 49 customers in the first quarter and had over 1.26 lakh employees as of June 30.
Wipro is seeing strong demand and client wins in the developed markets, including one of the largest food manufacturer in the UK and a top ten universal bank. The India and Middle East regions too demonstrated strong wins across multiple segments, the company said.
The company's larger rival Tata Consultancy Services (TCS) also beat analysts expectations last week, signaling strong demand for software services despite the global economic uncertainty.
Meanwhile, Wipro’s revenue from IT products segment rose 21% from a year ago to Rs 1,006 crore, while EBIT was up 26% to Rs 42.3 crore.
Revenue from the company’s consumer care and lightning business was up 18% to Rs 755 crore, while EBIT was up flat at Rs 89.5 crore.
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