IT consulting and business process outsourcing firm Wipro Ltd. reported revenue slipped 0.1% in its fiscal second quarter ended Sept. 30. However, gross margin improved.
| (Indian rupees millions) | Q2 2021 | Q2 2020 | % change | Q2 2021 (US$ millions) |
| Revenue | 151,145 | 151,256 | -0.1% | $2,055 |
| Gross profit | 45,758 | 43,250 | 5.8% | $622 |
| Gross margin percentage | 30.3% | 28.6% | ||
| Profit for the period | 24,843 | 25,612 | -3.0% | $338 |
Wipro reported its IT services revenue rose 3.7% to nearly $2.0 million.
The company, with headquarters in Bangalore, India, and East Brunswick, New Jersey, also announced today a deal to acquire Eximius Design, an engineering services company with expertise in semiconductor, software and systems design. Eximius was founded in 2013 and is based in San Jose, California. It has design centers in the US, India and Malaysia. The deal is expected to close in the quarter ending Dec. 31.
Guidance
Wipro expects IT services revenue to be up by 1.54% to 3.5%
Share price and market cap
Shares in Wipro set a new 52-week high today in India when they reached 381.70 Indian rupees (US$4.35). The company had a market cap of 2.15 trillion rupees (US$29.35 billion).