Wipro Q2 Profit Down

(RTTNews) - 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%.