BENGALURU:
Wipro reported a 9.6 percent decline in September quarter profits on Wednesday as rising personnel costs weighed on the software services exporter and lower revenues for customers in non-U.S. markets.
The company reported net profit of Rs 2,649.1 crore in the July-September quarter, compared to Rs 2,930.6 crore a year ago, the company said in a statement, with revenues increasing of Rs 22,539.7 crore from Rs 19,667.4 crore a year ago.
According to Wipro, its customers’ sales in non-US regions declined in the second quarter. Europe’s profit fell from Rs. 918.6 crore to Rs. 787.5 crore over the previous year.
Similarly, revenues in the Asia-Pacific/Middle East/Africa (APMEA) area fell to Rs 219.4 crore from Rs 302.8 crore the year before.