Biznextindia : Wipro, India’s 3rd largest software exporter today reported 34.9% rise in consolidated profit at Rs 2,544.5 crore in the October –December quarter as against Rs 1,885.7 crore in the previous quarter. However, on year-on-year basis the profit has increased by 32%.
The consolidated revenue surged by 3.6 per cent to Rs 15,059.5 crore as against Rs 14,541 crore in the previous quarter. The company also reported EBIT at Rs 2,613.9 crore versus Rs 1,785.1 crore in the quarter ending December.
Wipro declared an interim dividend of Rs.1 ($0.011) per equity share/ADS. The Board of Directors have recommended issue of bonus shares to shareholders (including stock dividend to ADS holders) in the ratio of 1:3 (One equity share for every Three equity shares held), subject to approval of shareholders.
The Bangaluru headquartered company also reported IT services revenue of Rs 14,665.6 crore for the December quarter, a rise of 2 per cent as against Rs 14,377.3 crore posted during the previous quarter.
Wipro expects Revenue from its IT Services business to be in the range of $2,047 million to $2,088 million. This translates to a sequential growth of 0.0% to 2.0%.
“Relentless focus on the quality of revenues and operational improvements have led to the expansion of IT Services Operating Margins to 19.8%. Our Operating Cash flows grew by 19.5% on YoY basis and was at 142% of Net Income” Jatin Dalal, Chief Financial Officer said.