Wipro Q1 consolidated net drops 8% to Rs 2,052 cr

Wipro Q1 consolidated net drops 8% to Rs 2,052 cr

The country's third-largest IT firm, Wipro Ltd, today reported an 8% decline in consolidated net profit at Rs 2,052 for the quarter ended June 2016 as compared to Rs 2,238 crore in the previous quarter ending March 2016.

The consolidated revenue declined marginally by 0.3% to Rs 13,69 crore as against Rs 13,742 crore in March 2016.

The EBITDA margin was at 17.8% while it was 19.7% in the quarter-ago period. The company's guidance in terms of dollar revenue growth for the second quarter is disappointing at 0.01-1% range.

On Tuesday, the company's stock on BSE closed 0.47% lower at Rs 549.40.