Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Companies / Company Results/  Wipro Q3 net rises 21% to 2,968 cr; expects Q4 revenue growth at 1.5%-3.5%
BackBack

Wipro Q3 net rises 21% to ₹2,968 cr; expects Q4 revenue growth at 1.5%-3.5%

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
  • On Wednesday, the company's scrip on BSE closed 0.2% higher at ₹458.80Premium
    On Wednesday, the company's scrip on BSE closed 0.2% higher at 458.80

    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.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
    More Less
    Published: 13 Jan 2021, 03:54 PM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App