Wipro Q3 Results: Net Profit Jumps 24% at ₹3,354 crore; Dividend Declared at ₹6 Per Share

IT Services giant Wipro reported its Q3 numbers today. Consolidated net profit surged 24% to ₹3,354 crore, while revenue from operations soared by 0.5% to Rs 22,319 crore.

The company also declared a dividend of ₹6 apiece and fixed January 28 as the record date for the same. The dividend will be distributed on or before February 15.

Profit after tax (PAT) surged 5% QoQ, while revenue was up only by 0.1%.

Srini Pallia, CEO and MD, Wipro said, “In a seasonally weak quarter, our strong in-quarter execution helped us deliver above the top end of our revenue guidance. We also achieved our highest margins in the past three years while continuing to invest in our people.”

Operating margin for the quarter stood at 17.5%, up 0.7% QoQ and 1.5% YoY.

Aparna Iyer, CFO, Wipro said, “We expanded margins for a fourth consecutive quarter, enabling us to achieve our previously stated target margin of 17.5%. Our EPS grew 24.4% YoY and operating cash flow was at 146.5% of net income.”

Total deals stood at $3.5 billion, in which large deals’ share stood at $961 million, an increase of 6% YoY in constant currency terms.

Shares of Wipro closed at ₹281.7 on the NSE, down 2.2%.