Net profit rose to ₹ 2,510 crore during October-December from ₹ 1,931 crore a year ago; revenue rose 10.2%; IT services business clocked $2.04 billion in revenues
New Delhi: Wipro today declared a net profit of ₹ 2,510 crore, higher by 29.6% from the same quarter a year ago as profits from sale of a data centre, margin improvement and foreign exchange gains boosted the bottom line. Gross revenues were higher by 10.2% at ₹ 15,059 crore. The company also announced a bonus of one share for every three held. Margins at the level of earnings before interest and taxes improved by 496 basis points on year to 19.8%.
In dollar terms, the company’s net profit came at $360.8 million on revenues of $2.2 billion. The company’s IT services business, its mainstay, clocked $2.04 billion in revenues. This was midway and in line with its revenue guidance of $2.02 billion-$2.06 billion from the IT services business.
The company expects the IT services revenues to be in the range of $2.04 billion-$2.08 billion, a sequential growth of up to 2%.
The company’s share today closed 2.9% higher at ₹ 346.20 on the BSE.
During the quarter, the company concluded the divestment of its hosted data centre business in Singapore and the United Kingdom. It booked gains of ₹ 281 crore on the sale.
The company also registered gains of ₹ 91 crore in foreign exchange as the dollar strengthened against the rupee. The foreign exchange gain last time was ₹ 12.5 crore.