Wipro Q3 net profit up 32% on-year; announces 1:3 bonus issue

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Updated: January 18, 2019 5:13:49 PM

Wipro Q3 results: IT services major Wipro on Friday posted a 31.8 per cent increase in consolidated net profit at Rs 2,544.5 crore for Q3FY18 compared to the year-ago period.

The company also reported EBIT at Rs 2,613.9 crore versus Rs 1,785.1 crore in the quarter ending December.

Wipro Q3 results: IT services major Wipro on Friday posted a 31.8 per cent increase in consolidated net profit at Rs 2,544.5 crore for Q3FY18 compared to the year-ago period. Wipro’s revenue from operations expanded 10.17 per cent to Rs 15,059.5 crore during the period under review from Rs 13,669 crore in the third quarter of FY18.

“Our strategic investments, backed by strong client relationships and client spends towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter,” Wipro CEO and Executive Director Abidali Z Neemuchwala said.

Wipro also reported IT services revenue of Rs 14,665.6 crore for the December quarter, a rise of 2 per cent as against Rs 14,377.3 crore posted during the previous quarter.

The company also announced an issue of one bonus share for every three held by the shareholders. “Issue of bonus equity shares in the proportion of 1 :3, that is 1 (One) bonus equity share of ~21-each for every 3 (Three) fully paid-up equity shares held and a bonus issue [stock dividend on American Depositary Share (ADS)] of 1 (One) ADS for every 3 (Three) ADS held, as on the record date, subject to approval of the members of the Company,” Wipro said in a regulatory filing.

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The record date for reckoning eligible shareholders (including ADS holders) entitled to receive bonus shares would be communicated later, the firm said

“An interim dividend of ~ 1/- per equity share of par value ~2/- each to the Members of the Company as on Wednesday,” the company also declared today.

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