Wipro reveals revenue for Q1

Wipro India BPO
IT outsourcing company Wipro announced revenue of $2 billion (+11 percent) and profit of $304 million (–6 percent) in the first quarter ended June 30, 2016.

IT Services revenue of Wipro was $1,930.8 million (+7.6 percent), while profit fell 3 percent to $345 million. The IT Services segment had a headcount of 173,863 as of June 30, 2016.

Wipro CEO Abidali Z Neemuchwala said: “Our early investments in areas such as our digital practice and cognitive intelligence, notably Wipro HOLMES is positioning as the partner of choice for customers. We expect the trajectory of growth to build gradually over the course of the year as we drive execution on our strategic themes and make progress towards achieving a sustainable growth trajectory.”

Wipro expects revenues from IT Services business to be in the range of $1,931 million to $1,950 million in the quarter ending September 30, 2016.