Wipro Q2 PAT down YoY due to ‘other expenses’

Wipro, one of India’s top IT services exporters, reported a fall in net profit for the second quarter, despite getting a lift from the falling rupee, due to a sharp increase in ‘other expenses.

Net profit for the September quarter came in at Rs 1,886 cr, down from Rs 2,094 cr in the preceding three months and Rs 2,190 cr in the year-ago period.

The sequential fall of Rs 208 cr was largely on account of a Rs 479 cr jump in ‘other expenses’.

Sales revenue increased 2.5% on quarter to about Rs 14,570 cr.

The above numbers include revenue from all divisions of the company, not just the IT services unit.