Data Know-how (IT) main Wipro witnessed a fall in its web revenue for the second quarter of 2021-22, which at Rs 2,930 crore was decrease than Rs 3,242 crore of the June quarter of the present fiscal.
The quarter on quarter fall was primarily because of contraction within the firm’s margins after effecting a wage hike and ammortisation expenses on Capco’s acquisition.
Wipro had wrapped up the acquisition of London-based The Capital Markets Firm (Capco) for $1.45 billion in April 2021. Capco is a consultancy agency within the banking and monetary companies sector.
Revenues from IT companies elevated to Rs 19,760 crore within the September quarter, vis-à-vis that of Rs 18,252.4 crore recorded within the earlier quarter.
Commenting on the outcomes, Wipro’s CEO and Managing Director Thierry Delaporte stated, “the second quarter results demonstrate that our business strategy is working well. We grew at over 4. 5 per cent organic sequential growth for a second quarter in a row, resulting in a 28 per cent year on year growth in the first half of this financial year. I thank our customers, partners and colleagues as we surpassed the $10 billion milestone of annualised revenue run rate.”
When it comes to market capitalisation, Wipro is the third largest IT companies firm within the nation.