Wipro Q3 net profit flat at Rs 2,969 cr, declares interim dividend of Re 1

IT major Wipro Ltd on Wednesday reported nearly flat consolidated net profit at Rs 2,969 crore for the quarter ending December 2021. It was Rs 2,968 crore in the year-ago period. 

Consolidated revenue from operations rose 30% to Rs 20,313 crore as against Rs 15,670 crore in year-ago period. Wipro

expects revenue from IT services to be in range of $2,692 million-$2,745 million for March quarter, a sequential growth of 2-4%.

For the December 2021 quarter, IT services revenue grew 2.3% sequentially to $2,639.7 million, in line with the forecast that had been given by the company in October.

In October, Wipro had said it expects its December quarter revenue from IT services business to be in the range of $2,631-2,683 million, a sequential growth of 2-4%.

On Wednesday, the company's scrip on NSE closed 0.45% lower at Rs 691. 

The company also declared an interim dividend of Re 1 per share. The IT services segment added 67 new customers in December quarter and had headcount of 231,671 as of December-end, an increase of 41,363 employees on a net basis year-on-year. It added 10,306 employees during the quarter.

Thierry Delaporte, CEO and Managing Director said, “Wipro has delivered a fifth consecutive quarter of strong performance, both on revenues, and margins. Order bookings have been strong too, and we have added seven new customers in the more than $100 Mn revenue league, in the last 12 months. Our strategy and improved execution continue to serve us well, and we are confident of building on this momentum. We are also excited to have completed the acquisitions of Edgile and LeanSwift Solutions in the quarter, both of which will add to our capabilities significantly.”

Wipro Chief Financial Officer Jatin Dalal said the company delivered robust operating margins after absorbing substantial investments on salary increases, owing to continued improvement in operating metrics.