Home Business Wipro Q3 net profit falls 2.17% to Rs 2,456 crore

Wipro Q3 net profit falls 2.17% to Rs 2,456 crore


NEW DELHI: Software services exporter Wipro on Tuesday reported a 2.17 per cent fall in its consolidated net profit for the third quarter ended Deember 31, 2019.

The Bengaluru-based company posted a net profit of Rs 2,456 crore as against a net profit of Rs 2,510 crore posted same period last year.

On quarterly basis, the company posted a 3.79 per cent profit in the quarter ended December 31, as against Rs 2,553 crore posted in the September quarter.

Its revenue from operations grew 2.7 per cent to Rs 15,470.5 crore during the period under review from Rs 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 the March quarter — a sequential growth of flat to 2 per cent.

“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 CEO and managing director Abidali Z Neemuchwala said.

The Board of Wipro Ltd declared an interim dividend of Re 1 per equity share of par value Rs 2 each to the members of the company.

Shares of Wipro closed 2.25 points or 0.88 per cent at Rs 257.15 on the BSE, while it finished 1.20 points or 0.47 per cent up at Rs 256 on the NSE.

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