Mumbai, July 17 (IANS). Leading IT company Wipro released the results for the first quarter of FY 27 on Thursday. The company has seen a decline of more than 4 percent in profits on a quarterly basis. Also, there has been a marginal increase of one percent in income during this period.
The company said in an exchange filing that its consolidated net profit declined by 4.7 percent quarter-on-quarter to Rs 3,352 crore in the first quarter of FY27. It has been almost flat on an annual basis.
In the June quarter of FY27, the company’s gross income increased by 1 percent on quarterly basis and 10.6 percent on annual basis to Rs 24,480 crore.
At the operating level, IT services operating margin during the quarter stood at 16 per cent, down 1.3 percentage points compared to the previous quarter and 1.2 percentage points lower than the same quarter last year.
Operating cash flow increased 3.6 per cent quarter-on-quarter to Rs 3,290 crore in June quarter FY27 and constituted 98 per cent of the company’s net income in the quarter.
The company’s voluntary attrition rate based on the last 12 months stood at 13.9 percent.
Wipro said in its guidance that the income of its IT services business could range from a decline of 1.5 percent to an increase of 0.5 percent.
Srini Palliya, Chief Executive Officer (CEO) and Managing Director (MD), Wipro, said, “Customers are no longer limited to just technological modernization but are adopting AI-enabled operational models that improve quality, efficiency and productivity.”
He further added, “Wipro’s consulting-led and AI-driven approach helps clients embed AI at the core of their business. These partnerships reflect our broad capabilities and clients’ trust in us as a transformation partner.”
Apart from the quarterly results, the company’s board of directors also declared an interim dividend of Rs 2 per equity share.
On Thursday, Wipro shares closed at Rs 177.80 on BSE with a gain of 1.83 percent.
However, the company’s stock has fallen 33.56 percent in the last six months and 32.38 percent in the last one year. At the same time, a decline of 38.49 percent has been recorded in the last five years.
–IANS
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