Wipro Q3 Net Flat At Rs 2,969 Cr, Board Approves Interim Dividend Of Re 1

Company's revenue from operations grew 29.6 per cent to Rs 20,313 crore, from Rs 15,670 crore in the quarter ended December 2020

On a sequential basis, Wipro’s net profit was up 1.3 per cent. Image: Getty

New Delhi: IT services major Wipro on Wednesday reported a consolidated net profit of Rs 2,969 crore for the December 2021 quarter (Q3).

According to a regulatory filing by Wipro, the net profit attributable to shareholders in the year-ago period had stood at Rs 2,968 crore.

On a sequential basis, Wipro’s net profit was up 1.3 per cent, it added. The company in a statement said it has clocked strong performance in revenues and order bookings.

Its revenue from operations grew 29.6 per cent to Rs 20,313 crore, from Rs 15,670 crore in the quarter ended December 2020.

Wipro, which gets a bulk of its top line (revenue) from IT services, said it expects revenues from that business to be in the range of $2,692 million to $2,745 million in the March 2022 quarter. This translates into a sequential growth of 2 per cent to 4 per cent for the March quarter.

For the December 2021 quarter, IT services revenue grew 2.3 per cent sequentially to $2,639.7 million, in line with the forecast that had been given by the company in October.

In October, Wipro had said it expects its December quarter revenue from IT services business to be in the range of $2,631-2,683 million, a sequential growth of 2-4 per cent.

Wipro CEO and Managing Director Thierry Delaporte said in a statement, “Wipro has delivered a fifth consecutive quarter of strong performance, both on revenues, and margins. Order bookings have been strong too, and we have added seven new customers in the more than $100 million revenue league, in the past 12 months.”

The company has declared an interim dividend of Re 1 per equity share.

Wipro shares closed marginally lower at Rs 691.35 apiece on the BSE on Wednesday. The results were declared after market hours.