Wipro December Quarter Results

IT services major Wipro on Wednesday posted a consolidated net profit of Rs 2,969 crore for the December 2021 quarter, and said it has logged strong performance in revenues and order bookings.

Infosys reported a 16.6 per cent rise in the October-December quarter profit and raised its annual revenue growth forecast, in results announcement post market hours on Wednesday

Wipro Share Price: The IT major had reported a net profit of Rs 2,326.1 crore for quarter ended March 31, a decline of 5.29 per cent compared to earlier December quarter.

Its total revenue came in at Rs 15,470.5 crore in the third quarter of the current financial year, as against Rs 15,125.6 crore in the July-September period.

Wipro expects revenue from its IT services business to be in the range of $2,065 million-$2,106 million in the quarter ending December 31. Bengaluru-based Wipro said it concluded its buyback of shares worth Rs 10,500 crore ($1.49 billion) during the quarter.

Wipro remained cautious over growth in the healthcare business, amid uncertainty around the Affordable Care Act. Although factors such as Brexit, rising trade war concerns and the healthcare act could create tension for firms globally, a weaker rupee has been beneficial for the country's IT sector.

Wipro's dollar sales grew 3 per cent sequentially in the December quarter, the best growth the company clocked in the last nine quarters. Operation or ebit margins rose 50 basis points sequentially to 23.5 per cent.

Brokers polled by NDTV expect Wipro to report a net profit of Rs. 1,685 crore, a 1.8 per cent sequential fall from the December quarter. Sales are estimated to rise 1.2 per cent quarter on quarter to Rs 11,158 crore.

IT services major Wipro on Wednesday posted a consolidated net profit of Rs 2,969 crore for the December 2021 quarter, and said it has logged strong performance in revenues and order bookings.

Infosys reported a 16.6 per cent rise in the October-December quarter profit and raised its annual revenue growth forecast, in results announcement post market hours on Wednesday

Wipro Share Price: The IT major had reported a net profit of Rs 2,326.1 crore for quarter ended March 31, a decline of 5.29 per cent compared to earlier December quarter.

Its total revenue came in at Rs 15,470.5 crore in the third quarter of the current financial year, as against Rs 15,125.6 crore in the July-September period.

Wipro expects revenue from its IT services business to be in the range of $2,065 million-$2,106 million in the quarter ending December 31. Bengaluru-based Wipro said it concluded its buyback of shares worth Rs 10,500 crore ($1.49 billion) during the quarter.

Wipro remained cautious over growth in the healthcare business, amid uncertainty around the Affordable Care Act. Although factors such as Brexit, rising trade war concerns and the healthcare act could create tension for firms globally, a weaker rupee has been beneficial for the country's IT sector.

Wipro's dollar sales grew 3 per cent sequentially in the December quarter, the best growth the company clocked in the last nine quarters. Operation or ebit margins rose 50 basis points sequentially to 23.5 per cent.

Brokers polled by NDTV expect Wipro to report a net profit of Rs. 1,685 crore, a 1.8 per cent sequential fall from the December quarter. Sales are estimated to rise 1.2 per cent quarter on quarter to Rs 11,158 crore.