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Wipro Q3 Profit Declines On Slightly Lower Revenues; Declares Dividend

Wipro Q3 Profit Declines On Slightly Lower Revenues; Declares Dividend

Mumbai: Wipro Ltd, the country's third largest IT services firm, has posted a surprise fall in third-quarter net profit as higher costs weighed.

Wipro had posted a net profit of Rs 2,189.60 crore in the same quarter previous year. Admitting that performance in verticals like energy, natural resources and utilities were impacted by some customer specific issues, Neemuchwala said there was a rebound in the energy business."In the third quarter (Q3), we made our 13th strategic investment through Wipro Ventures in Headspin, which offers a mobile experience management platform". Earnings per share were 4.03 rupees or $0.06, down from 4.35 rupees a year ago.

HCL Technologies has announced a dividend of Rs 2 per share.




Net profit fell to 19.31 billion rupees ($303 million) in the three months to December 31, from 21.10 billion rupees a year earlier, Wipro said on Friday.

Revenues from IT services segment, which accounts for a significant portion of the company's topline, stood at United States dollars 2.013 billion, remaining flat sequentially and up by 5.8 per cent year-on-year. The company missed its IT services revenue forecast of $2.014-2.054 billion, clocking $2.013 billion in the said quarter.

Revenues from Americas grew at 16.6 per cent in the reported quarter from the year-ago period, while that from Europe and Rest of World was higher by 2.5 per cent in constant currency terms. This is also reflected in our outlook for the next quarter. The company saw its headcount at 1,62,553 at the end of the third quarter.


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