Wipro net up 30 percent in Q1

Bangalore, July 24 (IANS) Indian IT bellwether Wipro Ltd. posted net profit of Rs.2,118 crore for the first quarter (April-June) of fiscal 2014-15, registering 30 percent growth year-on-year (Y0Y) under the Indian accounting standard.

In a regulatory filing to the Bombay Stock Exchange (BSE) Thursday, the global software major said its total revenue for the quarter under review increased 14 percent YoY to Rs.11,136 crore.

Under the International Financial Reporting Standard (IFRS), net income rose 30 percent YoY to $351 million and gross revenue to $1.9 billion, up 14 percent YoY.

Sequentially, however, net profit declined two percent from Rs.2,230 crore and total revenue 4.8 percent from Rs.11,700 crore posted in fourth quarter of last fiscal.

Revenue from global IT services is $1.74 billion, which is 1.2 percent up sequentially from $1.72 billion and 9.6 percent YoY.