Wipro’s profit in the third quarter of the current financial year has increased by about 21 per cent on a quarterly basis.
Wipro made a net profit of Rs 2,455.9 crore in the third quarter of the last financial year.
Infosys had a net profit of only Rs 2,455.9 crore in the third quarter of 2019-20
This earned the company a net profit of Rs 2,455.9 crore in the third quarter of the previous financial year. The company’s operating income increased 1.3 percent to Rs 15,670 crore during the quarter, from Rs 15,470.5 crore in the same quarter last fiscal.
The company said that it estimates that its IT services will be in the range of 2102 million to 214.3 million dollars in the quarter of March 2021. The company’s business from IT services grew 3.9 percent to $ 207.1 million on a quarter-on-quarter basis for the quarter ended December.Better than expected
This is higher than the estimate made by the company in October. In October, the company said that its business from IT services would be $ 202.2 to 206.2 million in the December quarter.
Great performance for the second consecutive quarter
Wipro CEO Thierry Delaporte said that the company has done strong performance for the second consecutive quarter. Order bookings, revenue and margins of the company have been good. He said, “On a quarterly basis, our five sectors registered growth of more than four percent.” He said that the demand environment is constantly improving. In particular, the demand for digital transformation, digital operations and cloud services is increasing.
The company’s turnover from IT products stood at Rs 160 crore and turnover from public sector undertakings in India stood at Rs 240 crore during the quarter. The company has announced an interim dividend of Re 1 per share. The company’s stock closed at Rs 458.7 on BSE with a marginal gain.