Wipro Q2 revenue up 30% year over year

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October 13, 2021

Wipro Ltd. (NYSE: WIT) reported revenue rose 30.1% year over year in its fiscal second quarter ended Sept. 30. Wipro also reported revenue in its IT services segment rose 29.5% year over year to $2.58 billion.

The IT services giant reported its revenue is on a run rate to surpass the $10 billion mark for the full year.

(Indian rupees millions) Q2 2022 Q2 2021 % change Q2 2022 (US$ millions)
Revenue                 196,674                 151,145 30.1% $2,652
Gross profit                   59,112                   45,758 29.2% $797
Gross margin percentage 30.1% 30.3%    
Profit for the period                   29,306                   24,843 18.0% $394

Wipro also released revenue for the Americas, which it divides into Americas 1 and Americas 2.

Americas 1 revenue rose 21.0% year over year to 53.21 billion Indian rupees (US$717 million), and Americas 2 revenue rose 33.3% to 59.26 billion Indian rupees (US$799 million).

Americas 1 includes revenue from US clients in the following industries: healthcare and medical devices, consumer goods, life sciences, retail, transportation and services, communications, media, and information services. It also includes Wipro’s entire Latin America business.

Americas 2 includes revenue from US clients in the following industries: banking, financial services and insurance, manufacturing, high tech, energy, and utilities. It also includes Wipro’s entire Canadian business.

Guidance

Wipro expects IT services revenue to grow between 2.0% and 4.0% sequentially in the third quarter from the second quarter.

Share price and market cap

Shares in Wipro were up 7.74% to $9.61 in New York as of 1:30 p.m. Eastern time today; they were 1.95% below their 52-week high, according to FT.com. The company had a market cap of $47.76 billion.

http://www2.staffingindustry.com/site/Editorial/Daily-News/Wipro-Q2-revenue-up-30-year-over-year-59370

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