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Wipro Q3 net profit jumps 1.88 per cent yoy to Rs 2,234 crore

Total Income from operations (net) of Wipro increased 7.17 per cent yoy to Rs 12,951.60 crore for the quarter ended December 2015 against Rs 12,085.10 crore in the corresponding quarter a year ago.

Wipro Q3 net profit jumps 1.88 per cent yoy to Rs 2,234 crore
Wipro reported 1.6 per cent drop in its March quarter net profit to Rs 2,235 crore due to pressure on margins even as it aims to double revenue to $15 billion by 2020.

Wipro announced its results for the third quarter ended December 2015 on Monday before market hours. Consolidated net profit of the IT company grew 1.88 per cent on year-on-year (yoy) basis to Rs 2,234 crore. However, it fell 0.06 per cent on quarter-on-quarter (qoq) basis.

Total Income from operations (net) of Wipro increased 7.17 per cent yoy to Rs 12,951.60 crore for the quarter ended December 2015 against Rs 12,085.10 crore in the corresponding quarter a year ago. The figure was at Rs 12,566.80 crore in the sequential quarter ended September 2015.

Wipro also informed BSE that the Board of Directors of the Company at its meeting held on January 18, 2016 have considered and approved an interim dividend of Rs 5 per equity share of par value Rs 2. The payment date for interim dividend will be made on or before February 2, 2016.

For the ongoing quarter, the company expects topline from its IT services business to remain in the range of $ 1,875 million to $1,912 million.

T K Kurien, member of the board and chief executive officer, Wipro, in a release said – “We delivered revenues in line with our guidance. We saw a pick-up in large deal closures led by Global Infrastructure Services. It is becoming increasingly clear that customers want to simplify operations and optimize their IT spend while investing in Digital to transform their business. We are well-positioned to take advantage of this trend.”

Jatin Dalal, chief financial officer, Wipro, in a release said – “During the quarter, we have built competitive differentiation through the acquisition of two high-potential companies – cellent and Viteos. The impact on revenues from the Chennai floods were minimised significantly by strong execution of our robust Business Continuity Plans (BCP).

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