Wipro Q2 net profit drops 14% to Rs 1,889 cr; revenue from operations grows 8.3% to Rs 14,541 cr

IT services major Wipro on Wednesday posted a 13.8 percent decline in consolidated net profit at Rs 1,889 crore for the July-September quarter of 2018-19 compared to the year-ago period.

The net profit, attributable to shareholders, in the year-ago period was at Rs 2,191.8 crore, according to a regulatory filing by Wipro.

Its revenue from operations, however, grew 8.3 percent to Rs 14,541 crore during the period under review from Rs 13,423.40 crore in the same quarter last year.

Wipro, which gets bulk of its topline from IT services, said its board has approved the appointment of Arundhati Bhattacharya as an Additional Director.

“… the Board of Directors of the company at its meeting held on 24 October, 2018, approved the appointment of Arundhati Bhattacharya as an Additional Director in the capacity of Independent Director for a term of five years with effect from 1 January, 2019,” it said in a separate filing.

The appointment is subject to the approval of shareholders of the company, it added.