Wipro’s net profit for Q3 dips 2.17% to ₹2,456 crore

THE IT COMPANY’S REVENUE FROM OPERATIONS GREW 2.7% TO ₹15,470.5 CR IN THE DEC QUARTER

NEWDELHI: Information technology ( I T) s ervices company Wipro on Tuesday posted 2.17% dip in consolidated net profit to ₹2,455.9 crore for December 2019 quarter.

The net profit, attributable to shareholders, in the year-ago period was at ₹2,510.4 crore, Wipro said in a regulatory filing.

Sequentially, too, the Bengaluru-based I T f i r m’ s n e t declined 3.8% to ₹2,463 crore from ₹2,561 crore a quarter ago.

The company’s revenue from operations grew 2.7% to ₹15,470.5 crore during the period under review from ₹15,059.5 crore in the same quarter last year (as per IND-AS).

Wipro, which gets bulk of its topline from IT services, said it expects revenues from that business to be in the range of $2,095 million to $2,137 million in t h e Mar c h q u a r t e r — a sequential growth of flat to 2%.

IT services segment revenue was at $2,094.8 million in December quarter, a sequential growth of 2.2%. This is in line with its outlook of $ 2, 065 million t o $2,106 million guided earlier.

“We have delivered a good quarter with secular growth across all business units, geographies and practices. We remain focused on deepening our customer relationships, converting our funnel and winning large deals,” Wipro chief executive officer and managing director Abidali Z Neemuchwala said.

The earnings per share for Q3 FY20 were ₹4.3 and grew by 3.2% year-on-year.

Wipro declared an interim dividend of ₹1 ($0.014) per equity share per American depositary receipts (ADRS).