Wipro Q1 net profit up 11% to Rs 3,337 crore, revenue flat

Wipro, India’s fourth largest IT player, on Thursday reported a 10.9% year-on-year increase in net profit for the first quarter, boosted by a reduction in expenses and foreign exchange gains, even as revenue grew under 1%. Sequentially, both profit and revenue fell – by 6.7% and 1.6%, respectively.

The Bengaluru-based company posted a net profit of Rs 3,336.5 crore on revenue of Rs 22,134.6 crore in the quarter ended June 30.

Wipro faced a compression in business in all geographies of Europe, Americas 2 and APMEA (Asia Pacific, Middle East and Africa)…