Wipro Results Q1 net profit up 4% QoQ

As per Indian GAAP, Wipro has reported a consolidated net profit of Rs9.08bn versus Rs8.72bn in the previous quarter. This translates into a sequential growth of 4.2% and a Year on Year (YoY) growth of 25%. Revenue for the quarter are Rs59.67bn as against Rs57bn, reflecting a Quarter on Quarter (QoQ) growth of about 5%. IT Services Revenue in dollar terms was US$1.07bn, a sequential growth of 3.5%, and marginally better than the company's guidance of US$1.06bn. In rupee terms, revenue stood at Rs44.05bn, a YoY growth of 39%.