Wipro reports 2.2 pc dip in Q3 net income at Rs 2,460 crore

IT services and consulting major Wipro on Tuesday reported 2.2 per cent dip in the net income for the third quarter ended December 2019 at Rs 2,460 crore in the year-on period.

However, gross revenue was Rs 15,470 crore, up by 2.7 per cent year-on-year. The IT services segment revenue was at 2.09 billion dollars, marking a sequential growth of 2.2 per cent.

Wipro, which gets bulk of its topline from IT services, said it expects revenues from that business to be in the range of 2.09 billion to 2.13 billion dollars in the March quarter, clocking a sequential growth of flat to 2 per cent.

The earnings per share for Q3 FY20 were Rs 4.3 and grew by 3.2 per cent year-on-year. The company also announced a dividend of Re 1 per equity share of par value Rs 2 each.

"We have delivered a good quarter with secular growth across all business units, geographies and practices," said Abidali Z Neemuchwala, Chief Executive Officer and Managing Director.

"We remain focused on deepening our customer relationships, converting our funnel and winning large deals," he said in a statement.