Wipro has reported revenue of $2.1 billion, an increase of 4 percent during the second quarter ended September 30, 2019.
Wipro’s IT services revenue rose 2.5 percent to $2.048.9 billion. IT Services operating margin increased 3.1 percent to 18.1 percent. Wipro reported net income of $361.4 million, an increase of 35.1 percent.
Wipro said digital revenues grew 7 percent quarter-on-quarter and 29 percent year-on-year and now contributes 39.6 percent of its revenues.
Wipro said the total number of employees increased to 181,453 in the September quarter from 174,850 in June quarter.
The company’s voluntary quarterly annualised attrition rate dropped from 17.9 per cent to 16 per cent. “We continue to drive localisation in the US where our local workforce is 67.8 per cent of the total US employee strength,” Wipro CFO Jatin Dalal said.
Wipro CEO Abidali Z. Neemuchwala said: “The overall growth was broad based with 6 out of 7 industry verticals growing and we signed a large deal in India aligned to our strategy of taking global offerings to India customers.”
Wipro has generated 31.3 percent of its revenue from Banking, Financial Services and Insurance, 5.7 percent from Communications, 16 percent from Consumer Business Unit, 12.9 percent from Energy, Natural Resources and Utilities, 13 percent from health, 8.1 percent from manufacturing and 13 percent from technology.
Wipro generated 59.6 percent of its total revenue from Americas, 23.5 percent from Europe and 16.9 percent from rest of world including India.
Wipro expects its revenue from IT Services business to be in the range of $2,065 million to $2,106 million for the third quarter ending December 31, 2019 with an expected sequential growth of 0.8 percent to 2.8 percent.