Wipro Q3 net profit dips 2.17% pc to Rs 2,456 cr

IT services major Wipro on Tuesday posted a 2.17 per cent dip in consolidated net profit to Rs 2,455.9 crore for the December 2019 quarter, and estimated up to 2 per cent revenue growth for the fourth quarter.

Wipro’s net profit, attributable to shareholders, in the year-ago period was Rs 2,510.4 crore. Its revenue from operations grew 2.7 per cent to Rs 15,470.5 crore during the period under review from Rs 15,059.5 crore in the same quarter last year (as per Ind-AS). Earnings per share (EPS) for the quarter was Rs 4.3 per share and grew 3.2 per cent year-on-year.

The Bengaluru-based company’s numbers came days after larger rival Infosys announced an almost 24 per cent jump in net profit, and 7.9 per cent rise in revenue. Infosys had exuded confidence in the demand environment and raised its revenue outlook for 2019-20 in constant currency to 10-10.5 per cent.