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WIPRO Q3 net profit steady at Rs 2,969 crore, earnings up 29.6 per cent

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WIPRO Q3 net profit steady at Rs 2,969 crore, earnings up 29.6 per cent

Wipro has declared an interim dividend of Re 1 per share. (signal picture)

New Delhi:

Information technology company Wipro’s consolidated net profit for the quarter ended December, 2021 of the current financial year has remained stable at Rs 2,969 crore. However, the company’s earnings have increased during the quarter and its order booking has also been strong. Earlier, in the October-December quarter of the previous financial year 2020-21, the company’s net profit was Rs 2,968 crore. In the information sent to the stock exchanges, the company said that its net profit has increased by 1.3 percent on a quarter-on-quarter basis.

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The company’s operating income grew by 29.6 per cent to Rs 20,313.6 crore during the quarter. It was Rs 15,670 crore in the same quarter of the previous financial year. IT services are the main contributor to the company’s revenue. The company said that its income from IT services will be $ 2,745 million from 2692 million in the March 2022 quarter. This would be an increase of two to four per cent on a quarterly basis.

The company said that its IT services revenue stood at $2683 million from 2631 million for the quarter ended December 2021. It is higher by two to four per cent on a quarter-on-quarter basis. Wipro Chief Executive Officer (CEO) and Managing Director Thierry Delaporte said that this is the fifth consecutive quarter on the revenue and margin front, while our performance has been good.

“Our order booking is also very strong. We have added seven new customers in the last 12 months with revenues exceeding $100 million. These will increase our capacity significantly. Wipro Chief Financial Officer (CFO) Jatin Dalal said the company has posted strong operating margins after investing a significant amount on wage hike.

The company’s IT services business has seen a net increase of 41,363 in its workforce at 2,31,671 year-on-year. The company added 10,306 employees during the quarter. Wipro has declared an interim dividend of Re 1 per share. The company’s stock closed at Rs 691.35 on Wednesday with a slight loss in BSE.

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