Wipro Q3 net up 10% at Rs 1,456 cr

Software services major Wipro sounded optimistic amidst uncertain global economic environment and expects its IT services revenues to grow by around 1-3% in the last quarter of the current fiscal year. HT reports. Outlook bright

Software services major Wipro on Friday reported a 10% year-on-year increase in net profit at Rs 1,456 crore for the three months ended December, aided by a weak rupee and better price realisations for IT service deals.

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The company had posted a net profit of Rs 1,319 crore during the same period last year.

The company’s revenues rose by 28% to Rs 9,997 crore during the quarter.

Wipro sounded optimistic amidst uncertain global economic environment and expects its IT services revenues to grow by around 1-3% in the last quarter of the current fiscal year.

“We continue to execute on our strategy and propel the business towards a higher growth trajectory,” said Azim Premji, chairman, Wipro. “The overall macroeconomic sentiments continue to be uncertain and we are monitoring it closely.

The company added 39 new clients and a little over 5,000 employees during the quarter under review.

Wipro stocks gained 2.38% to close at R417 on the Bombay Stock Exchange (BSE) on Friday