Wipro's net profit fell 14 percent in second quarter, Arundhati Bhattacharya in board of directors
10/25/2018
Business/ News Measurements Network
12:05
Information technology company Wipro has posted a net profit of Rs.1889 crore in the second quarter of the current financial year, which is 13.8% lower than the previous fiscal. The company told the stock market that it had net equity of Rs 2,191.80 crores in the same quarter last fiscal. 
 
However, during the reported period, the revenue generated by the company has increased by 8.30 percent to Rs 14,541 crore compared to Rs 13,423.40 crore.
 
The company said that its board of directors approved the appointment of Arundhati Bhattacharya as additional director. The company said that Bhattacharya has been appointed for five years and this appointment will be effective from January 1, 2019. This appointment is yet to be approved by the company's shareholders.
 
Wipro's Chief Executive Officer and member of the Board of Directors, Adib Ali Z Neemuchwala said, "Wipro has given a good quarter on both the basis of revenue and profit growth. We have got our biggest deal in this period and in terms of stable currency our business units have increased by more than four percent. Demand is particularly strong in terms of digital transformation and modernization services.
 
The company's chief financial officer, Jatin Dalal, said that the continuous improvement of the operating parameters of the company reflects the implementation of the focus. He said that automation in the coming time will prove to be crucial in maximizing profits. By the end of the quarter, the total number of employees in the company is 1,75,346.
 

 

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