INSUBCONTINENT EXCLUSIVE:
Wipro announced improved revenue growth in the first quarter of fiscal 2018 beating market estimates buoyed by the revival of business in
growth for the second-quarter of this fiscal year
While first quarter profits grew 2.11 per cent to 2,120 crore, revenue rose 4.72 per cent to 14,307 crore
We are not focusing on the top line alone
revenue grew 0.3 per cent in constant currency to $2.02 billion
Constant currency strips out the volatility due to currency fluctuation
Revenue forecast was $2-2.04 billion
Excluding the impact of the sale of its hosted data centre business, this translates to growth of 0.3-2.3 per cent sequentially in constant
While the IT services revenue was a beat, EBIT margin was a miss
Wipro is still a long way from catching up with the other companies
identified.
Separately, Wipro announced it would pay $117 million to take over Alight HR Services India.
