IT services major #Wipro today reported a 12% decline in its #profits to ₹2,717 crore in the first quarter, as against ₹3,087 crore in the previous quarter.
The IT company’s revenues grew 3% sequentially to ₹22,001 crore in the same period, in line with analyst expectations.
Offering guidance for the September quarter, #Wipro said it expects IT services business revenue to be in the range of $2.82-2.87 billion, which translates to a sequential 3-5% growth.
However, Wipro CEO and MD Thierry Delaporte said the company is “pleased with the outcomes”.
#Wipro noted that it closed 18 large deals totaling to $1.1 billion in total contract value in June quarter, with its order book growing by 32%. Its customers in the over $100 million range grew from 13 to 20, while those between $50-100 million grew from 42 to 50, year-on-year.
Looking at the numbers, it is clear that #Wipro’s margins have been stressed, and a falling #rupee has not helped the company’s bottomline. The company’s margins contracted on both sequential as well as year-on-year basis.
#Wipro’s non-US profits has taken a big hit, with #Europe and #Asia-Pacific, Middle East and Africa reporting major declines. The contribution from the US region went up from 68% in the last quarter to 74% in this quarter, further increasing Wipro’s dependence on this region.
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Forget making back money, it looks like Brahmastra is taking down PVR & Inox investors with itself. With early reviews pouring cold water on #Brahmastra’s prospects, India’s largest theater chains PVR & Inox have cumulatively lost over ₹800 crore in market capitalization today.
In Indian mythology, #Brahmastra is known as a weapon of unstoppable destruction, which can only be stopped by its counterattack astra (weapon). Ironically, the movie could end up being a victim of the weapon it is named after.
The late #QueenElizabethII has visited India three times – in 1961, 1983 and 1997, each time accompanied by her husband and Duke of Edinburgh, the late Prince Philip. Her first visit came nearly 15 years after India's independence.
#KingCharlesIII takes over as the British monarch after the death of #QueenElizabethII, and that will lead to a demonetisation in the UK. New coins and currency notes will be minted and printed after the designs are approved.
The death of #QueenElizabethII has given the British monarchy its first King after over 70 years. The old coins and notes will be slowly phased out of circulation.
The old coins and notes featuring #QueenElizabeth II will continue to be legal tender for the time being.
The #iPhone14 is the base variant and comes with a few upgrades over its predecessor, including the A15 Bionic chipset, upgraded cameras and longer battery life.
Apple has announced the much-awaited #IPhone14 series, the company’s latest flagship offering. In addition to the iPhones, the company also announced Apple Watch SE, #AppleWatchSeries8, Apple Watch Ultra and the AirPods Pro gen 2.
Coming to the iPhone 14 series, the Cupertino giant has introduced four models – the base #iPhone14, iPhone 14 Plus, #iPhone14Pro and the top-end iPhone 14 Pro Max.
Apple has made significant changes to the iPhone 14 series.
Astronomers focused the #JamesWebbSpaceTelescope on Tarantula Nebula, one of the brightest and most active star-forming regions in our galactic backyard, and found thousands of young stars they hadn't seen before, images released by NASA on Tuesday show.
The Tarantula Nebula, is an immense cloud of gas and dust about 160,000 light-years away in the Large Magellanic Cloud, a satellite galaxy of the #MilkyWay. The nebula has birthed some massive stars, a few that are more than 150 times the mass of our sun.