Wipro Q3 Results: Revenue increases 30% year-on-year, net profit is down; Interim dividend paid
By Malvika Gurung
Investing.com – Leading IT services provider Wipro (NS 🙂 released its December quarter earnings report on Wednesday, posting moderate net profit of Rs 2,969 crore compared to Rs 2,968 crore figure , during the same quarter. Last year.
The company’s net profit, however, is Rs 38 crore higher than the figure posted in the last quarter, Q2.
Wipro’s operating revenue rose 29.6% to Rs 20,313.6 crore in the end of December quarter, from Rs 15,670 crore reported in the third quarter of FY21 and 19,667 crore of Rs reported in the previous quarter.
The computer science major’s pre-tax profits are slightly lower at Rs Rs 3,553.5 crore, compared to a survey estimated at Rs 3,560 crore.
In addition, Wipro’s EPS rose 4.3% year-on-year to Rs 5.43, while its IT services operating margin stood at 17.6%, down 19 points from base on a QoQ basis.
The IT major declared an interim dividend of Re 1 / share and announced a conversion of operating cash flow to Rs 30.1 billion, or 101.3% of net profit.
For the fourth quarter outlook, the company forecasts IT Services revenue of between $ 2,692 million and $ 2,745 million, leading to sequential growth of 2-4%.
In the third quarter of fiscal 22, Wipro added 10,306 employees, closing the IT services segment with a workforce of 2.31 lakh employees, according to data from ESB.