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India

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

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.

Abidali Z Neemuchwala

IMAGE: Abidali Z Neemuchwala, Wipro's CEO and managing director. Photograph: PTI Photo

IT services major Wipro on Tuesday posted 2.17 per cent dip in consolidated net profit to Rs 2,455.9 crore for December 2019 quarter.

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

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.

IT services segment revenue was at $2,094.8 million in December quarter, a sequential growth of 2.2 per cent.

This is in line with its outlook of $2,065 million to $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 CEO and managing director Abidali Z Neemuchwala said.

Wipro declared an interim dividend of Re 1 ($0.014) per equity share/ADS.

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