The company’s income from operations grew by a marginal 0.5% to Rs. 22,319 crore and its board of directors today set a record date of January 28 for the same at Rs. An interim dividend of 6 was approved. Dividend will be paid on or before February 15.
On a sequential basis, profit after tax (PAT) rose by around 5% and revenue rose by 0.1%.
During the quarter, IT services segment revenue grew 1% year-over-year to $2.6 billion. The same fell 1.2% QoQ.
US markets were trading higher today with the Dow up 287.92 points or 0.67% at 43,441.10 around 8.15 am IST. The S&P 500 rose 48.22 points, or 0.81%, to trade at 5,985.56 while the Nasdaq Composite was up 1.38%, or 267.62 points, to trade at 19,605.90.
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Meanwhile, Wipro’s shares traded on the NSE at Rs. 281.85, up from Thursday’s closing price of Rs. closed down 6.20 or 2.15%. Earnings were released after market hours.
Also Read: Jio Financials Q3 Results: PAT YoY at Rs. 295 crore remains flat, a 6% increase in revenue
“In a seasonally weak quarter, our strong in-quarter execution helped us deliver to the top end of our revenue guidance. We have also achieved our highest margins in the last three years by continuing to invest in our people,” said Srini Palia, CEO and MD, Wipro.
IT services operating margin for the quarter was 17.5%, up 0.7% QoQ and 1.5% YoY.
Wipro expects revenue from its IT services business segment to be in the range of $2,602 million to $2,655 million in the March quarter. This translates into sequential guidance of (-)1-1% in constant currency terms.
Also Read: Tech Mahindra Q3 Results: Cons PAT up 93% YoY to Rs. 983 crore, revenue up 1%
(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times)
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