Wipro Q3 outcome: Net profit spirals 21pc to Rs2,967-Cr

IT Giant Wipro closed the December quarter with strong top and bottom-line growth led by a strong performance on order booking and broad-based growth across all service lines and business units.

The BoD of the company approved an interim dividend of Re 1 per equity share of par value Rs 2 each, which will be paid on or before February 02, 2021.

The company posted an about 21 percent jump in consolidated net profit at Rs 2,968 crore for the December 2020 quarter, and said the demand environment is improving steadily. The company logged 3.9 percent quarter-on-quarter growth in IT services revenue, the "highest in 36 quarters".

Overall, the revenue from operations grew nearly 1.3 percent to Rs 15,670 crore in the quarter ended December 2020 as compared to the corresponding period of the previous year. Earnings per share for the quarter was at Rs 5.21, an increase of 20.7 percent year-on-year. Wipro, which gets a bulk of its topline from IT services, said it expects revenues from that business to be in the range of USD 2,102 million to USD 2,143 million in the March 2021 quarter.

Wipro said its order book is strong across sectors and service offerings, and that there is significant traction in markets and all key geographies.

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