Plus   Neg

Wipro Q2 Profit Down

India-based software services company Wipro Ltd. (WIT) reported that its net income attributable to equity holders for the second-quarter declined to 18.89 billion Indian rupees or $260 million, from last year's 21.92 billion rupees. Earnings per share decreased to 4.19 rupees or $0.06, from 4.52 rupees last year.

But, Gross revenues were 145.41 billion rupees or $2.01 billion, up from 134.23 billion rupees a year ago. Adjusted IT Services Segment revenue was up 6.2% sequentially and 10.4% year-over-year in INR terms.

Looking for the quarter ending December 31, 2018, the company expect Revenue from IT Services business to be in the range of $2.028 billion to $2.068 billion. Comparable revenue excluding India PSU and India Government business for the quarter ended September 30, 2018 was $2.007 billion. This translates to sequential growth outlook of 1.0% to 3.0%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Commerzbank AG (CRZBY.PK) said Friday that it plans to cut 4,300 jobs, as part of its strategy. It also plans to sell its majority stake in mbank S.A. It is considering making a purchase offer to Comdirect's outstanding shareholders. Walmart, which has said its goal is to become America's neighborhood health destination, is hosting a free wellness event in its stores across the country on Saturday, September 21. The "Walmart Wellness Day" event will held be from 10 a.m. to 2 p.m. at more than 4,600 Walmart stores with pharmacies. Customers can visit these stores to get free health screenings and low-cost flu shots. Exploding Kittens Inc. recalled 11,235 units of safety goggles sold with Throw Throw Burrito Extreme Going Pro Edition Dodgeball Card Game sets for concerns of laceration hazard if shattered. These include 735 units sold in Canada, a statement published by the U.S. Consumer Product Safety Commission said.
Follow RTT