Wipro in focus on declaring Q3 December results

Wipro, on consolidated basis, reported 3.79% decline in net profit to Rs 2,455.90 crore on 2.28% increase in revenue to Rs 15,470.50 crore in Q3 December 2019 over Q2 September 2019. IT services segment revenue rose 3.03% to Rs 15,100.60 crore crore in Q3 December 2019 over Q2 September 2019. In dollar terms, IT services segment revenue was at $2,094.8 million, a sequential growth of 2.2%. The company expects revenue from IT services business to be in the range of $2,095 million to $2,137 million. This translates to a sequential growth of 0.0% to 2.0%.

Mindtree, on consolidated basis, reported 45.93% rise in net profit to Rs 197.00 crore on 3.42% increase in revenue to Rs 2,000.10 crore in Q3 December 2019 over Q2 September 2019. Digital business grew by 13.5% y-o-y.

Canara Bank said that it has decided to call-off the divestment process of its entire stake in Can Fin Homes, which was under progress.

CSB Bank informed that the regulatory restrictions imposed by RBI on opening of new branches in view of the delayed Initial Public offering, have been lifted by RBl, with effect 10 January 2020. Accordingly, the Bank can currently open branches under the general permission of RBI for all banks.

Piramal Enterprises informed that a meeting of the company will be held on 17 January, 2020, to consider and approve the issue of secured nonconvertible debentures on private placement basis amounting up to Rs 300 crore.

Saksoft said that Credit Analysis & Research Limited (CARE) has assigned an upward rating to the long term bank facilities of the Company from CARE BBB +; Positive (Triple B Plus; Outlook Positive) to CARE A - ; Stable (Single A Minus; Outlook: Stable).

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