Wipro Reports 9% Drop In September Quarter Profit On Rising Staff Cost
Wipro reported a 9.6 per cent fall in September-quarter profit on Wednesday, as rising staff expenses weighed on the software services exporter and on lower earnings from clients in non-US markets.
The company reported a net profit of Rs 2,649.1 crore in July-September quarter, compared to Rs 2,930.6 crore a year ago, the company said in a statement, with revenues increasing to Rs 22,539.7 crore from Rs 19,667.4 crore a year ago.
According to Wipro, second-quarter revenue from its clients in non-US regions decreased. Europe's earnings decreased from Rs. 918.6 crore to Rs. 787.5 crore over the previous year.
Similarly, earnings in the Asia Pacific/Middle East/Africa (APMEA) area fell to Rs 219.4 crore from Rs 302.8 crore the year before.
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