Wipro's Q1 profit jumps 36% YoY to Rs 3,242.6 crore, revenue rises 22%

IT services operating margin for the quarter was at 18.8 percent, a decrease of 29 bps YoY while net income for the quarter was Rs 3,230 crore, an increase of 35.2 percent YoY.

The company's IT services workforce crossed the milestone of 2,00,000, closing headcount at 2,09,890.

"Wipro signed an agreement to acquire Ampion on April 1, 2021, and we previously announced that it will be closed during Q1FY22. However, certain regulatory approvals are still pending and the transaction is now expected to be closed in Q2FY22, said the company.

Wipro expects revenue from its IT services business to be in the range of $2,535 million to $2,583 million. This translates to a sequential growth of 5 percent to 7 percent, it said.

“Despite the severe onslaught of the pandemic, we delivered our best-ever quarter, with secular growth across all SMUs, sectors and GBLs. Our sequential revenue growth of 12.2 percent was well ahead of the top-end of our guidance range, both organically and with Capco," said Thierry Delaporte, CEO and Managing Director, Wipro.

"We remain focused on deepening our customer relationships, investing in talent and capabilities for the future, and winning market share."

The company said it issued its first-ever dollar denominated bond offering of $750 million with a 5-year tenor in June 2021.

Jatin Dalal, Chief Financial Officer said: "We delivered robust growth in EPS of 41 percent YoY even as we continued to invest for growth. At 103.7 percent of our net income, our operating cash flows for the quarter remained healthy. I am also pleased to share that we have successfully issued our debut bond offering in the international markets for $750 million."