Wipro said on Tuesday that its net profit was nearly flat at ₹2,390 crore for the first quarter of FY21 while gross revenue grew 1.3 per cent to ₹1,4910 crore on Year-on-Year basis.

The IT services' segment revenue fell 5.7 per cent to $1.9 billion while IT services' operating margin for the quarter was 19 per cent, recording an expansion of 0.6 per cent on year on year basis.

The new CEO and MD of Wipro Ltd., Thierry Delaporte said his goal for the company would be profitable growth will be the most important priority and that he is confident that the company will be able to deliver long-term, sustainable growth in the interest of all our stakeholders.

Jatin Dalal, Chief Financial Officer said: "We expanded the margins during the quarter, despite lower revenues, on the back of solid execution of several operational improvements and rupee depreciation. We also continued to sustain robust cash generation with operating cash flows at 174.9 per cent of net income."