Wipro shares surge nearly 8 pct post Q3 earnings

Shares of IT services major Wipro today surged nearly 8 per cent after the company reported an 8 per cent growth in consolidated…

Wipro, Wipro Chief Business Officer, Wipro Satishchandra Doreswamy, Satishchandra Doreswamy, Satishchandra Doreswamy resignation, Abid Ali Neemuchwala, Abid Ali Neemuchwala Wipro, business news
Wipro, the country's third-largest software firm, in a reshuffle of its top management earlier this month had announced the appointment of Neemuchwala while elevating T K Kurien as the Executive Vice Chairman. (PTI)

Shares of IT services major Wipro today surged nearly 8 per cent after the company reported an 8 per cent growth in consolidated net profit in the December quarter.

Wipro’s scrip gained 7.78 per cent to Rs 598.45 at the BSE.

On the NSE, it climbed 7.82 per cent to Rs 598.50.

The blue-chip stock was the top gainer on both the key indices – Sensex and Nifty.

Wipro Ltd Q3 FY15 performance was largely above our estimates on all front,” Daljeet S Kohli, Head of Research IndiaNivesh Securities Private Limited said.

Wipro had on Friday reported an 8 per cent growth in consolidated net profit to Rs 2,192.8 crore in the December quarter, helped by growth in healthcare and infrastructure services business.

The country’s third largest software services company’s net profit was at Rs 2,014.7 crore in the year-ago period.

Consolidated revenue grew 7 per cent to Rs 12,085.1 crore in October-December quarter this fiscal from Rs 11,327.4 crore in the same quarter of 2013-14. The figures are on IFRS basis.

IT services revenue rose by 7 per cent to USD 1.79 billion in the third quarter.

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