Wipro Q3 net rises 21% to ₹2,968 cr; expects Q4 revenue growth at 1.5%-3.5%1 min read . Updated: 13 Jan 2021, 03:54 PM IST
- Total revenue rose marginally to ₹15,670 crore in Q3FY21
- Wipro CEO Thierry Delaporte says company saw second straight quarter of strong performance and that revenue growth is at upper end of their guidance
IT software giant Wipro on Wednesday reported 21% rise in consolidated net profit at ₹2,968 crore for the quarter ending 31 December, 2020. It was ₹2,456 crore in the year-ago period.
Total revenue rose marginally to ₹15,670 crore in Q3FY21. Wipro expects revenue from its IT Services business to be in the range of $2,102-$2,143 million, which translates to a sequential growth of 1.5% to 3.5%.
Consolidated IT services revenue rose to ₹15,333 crore from ₹15,101 crore a year ago. The company, which added 89 new customers in the IT Services segment, declared interim dividend of ₹1 per share. IT Services' operating margin was at 21.7%, an expansion of 243 bps sequentially and 329 bps on an annual basis.
On Wednesday, the company's scrip on BSE closed 0.2% higher at ₹458.80.
Wipro shares rallied 23.2% during December quarter and 57.1% in the calendar year 2020, outperforming Nifty IT index that gained 21.55% and 55%, respectively."Wipro has delivered a second consecutive quarter of strong performance on order booking, revenue and margins. Five of our sectors grew over 4% sequentially. We closed our largest ever deal win in Continental Europe. The demand environment is steadily improving, especially for digital transformation, digital operations, and cloud services. I am also pleased to share with you that we have moved into our new organization structure and are stabilizing quickly," said Thierry Delaporte, CEO and Managing Director.