Wipro quarterly net profit rises 18%, beats estimates as Azim Premji talks positive
The company said that it expects revenues from IT services business to be in the range of $1,585 million to $1,625 million for the quarter ending March 31.
Shares of Wipro were trading at Rs 414.25, down by 3.91% on the BSE, as of 9.55 am on Friday.
Wipro's Q3 net up 18pc to Rs 1,716.4 cr
(PTI): Wipro Q3 net up 18%; softer guidance pulls scrip down 8%
Bangalore, Jan 18 (PTI) Country's third largest software services firm Wipro today beat market expectations by posting 18 per cent gain in net profit at Rs 1,716 crore for October -December quarter, but said it remains cautious even though global economic factors are stabilising.
Wipro scrip fell 7.88 per cent to close at Rs 397.15 on the BSE, which some analysts attributed to "soft" guidance.
"Wipro reported results soft on revenue but stronger on margin than expectation. Guidance looks softer than what consensus might be expecting," according to a Prabhudas Lilladher report.
Revenues of the Bangalore-based firm rose 10 per cent to Rs 11,025 crore for the third quarter of 2012-13 fiscal, from Rs 9,965.1 crore in the same period of last fiscal.
The IT services revenue, which accounted for 78 per cent of total revenues, stood at USD 1.577 billion (Rs 8,602 crore in rupee terms) in the quarter, up 4.8 per cent year-on-year and 2.4 per cent compared to July-September 2012 quarter.
Wipro expects revenues from IT services business to be in the range of
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