Wipro Q3 net profit falls by 3.2 per cent to Rs 24,629 crore

Wipro said it also won major deals in the Middle-East, Japan and the US in its services, digital and cloud application services.

Published: 14th January 2020 04:43 PM  |   Last Updated: 15th January 2020 09:26 AM   |  A+A-


Wipro (File Photo| PTI)

By Express News Service

BENGALURU: The net profit of IT services major Wipro Ltd fell 3.2 per cent to Rs 24,629 crore in the third quarter of financial year 2019-20, from Rs 25,444 crore it reported in the same quarter a year ago, the company announced on Tuesday. Its overall revenue, however, increased 2.7 per cent to Rs 154.705 crore from Rs 150.595 crore a year ago. Wipro has declared an interim dividend of Rs 1 per equity share.

The IT services segment of the software exported grew 2.2 per cent quarter-on-quarter at $2,094.8 million; the operating margin also recovered this quarter, growing sequentially at 0.3 per cent in Q3FY20 from 18.4 per cent a quarter ago, the company said in an exchange filing.

Wipro said it also won major deals in the Middle-East, Japan and the US in its services, digital and cloud application services. “We have delivered a good quarter with secular growth across all business units, geographies and practices. We remain focused on deepening our customer relationships, converting our funnel and winning large deals,”  said Wipro CEO Abidali Z Neemuchwala.

The IT firm said it expected the revenue from IT services business to be in the range of $2,095-2,137 million.

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