Wipro Beats Street Hopes, Net Up 9%

Published: 17th January 2015 06:05 AM  |   Last Updated: 17th January 2015 06:05 AM   |  A+A-

BENGALURU: Software exporter Wipro beat Street expectations and reported 8.84% growth in consolidated net profit at Rs 2,192.8 crore and 5.4% on Q-0-Q for the third quarter of the current fiscal when compared to Rs 2,014.7 crore reported in the same period a year ago.

However, the better performance of the company did not reflect at the exchanges as its shares closed 0.79% lower at Rs 555.25 on the Bombay Stock Exchange.

The Bengaluru-based company’s growth was driven by deals in healthcare and infrastructure services. The company reported a revenue of Rs 7.7 billion ($123 million) from the IT products segment.

Total revenues were up 6% Y-o-Y at Rs 119.9 billion ($1.9 billion) and IT services revenue was $1.795.4 million, registering a sequential increase of 1.3% and Y-o-Y increase of 7%, the company said.

Wipro-Beats.jpg“Developments in the Global currency and commodity markets are affecting major economies unevenly even as India anticipates growth led by next-generation of economic reforms,” Azim Premji, Chairman of Wipro, said in a statement. 

Jatin Dalal to replace Suresh Senapaty as new CFO: Wipro announced the retirement of incumbent Chief Financial Officer (CFO) Suresh Senapaty with effect from March 31, 2015 after attaining the age of superannuation. He will be replaced by Jatin Dalal, current Senior Vice-President (Fin) from April 1 2015, the company informed the media.

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