Wipro's Q3 net profit rises 2pc, revenue slips to Rs 13690cr

Soma Tah
New Update

Wipro's net profit for the quarter ended December, 2016 has grown 2pc sequentially to Rs 2,110 crore. The revenue, however slipped to Rs 13690 crore in Q3 from the earlier reported revenue of Rs 13770 in Q2.


IT services revenue grew marginally to Rs 13200 crore in Q3 from Rs 13140 crore in Q2.

Wipro expects IT services business revenue to be in the range of $1,922 million to $1,941 million, a growth of 1-2pc over third quarter Q3. Guidance is based on the exchange rate(USD/INR) of 67.73.

Wipro's investments in Digital, BPaaS and cloud applications has paid off, as the digital ecosystem grew by 9.9pc sequentially in the quarter and now constitutes 21.7pc of our revenues, said Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board.


Wipro last year has invested almost $1 billion in acquisitions and continued to invest aggressively in its cognitive platform, Wipro HOLMES and in its stated localization strategy, said he.

It has added 1 client in the $100mn-plus  revenue category.

Vertical-wise, only energy, natural resources & utilities business grew 0.3pc sequentially, while communications business slipped 1.9pc sequentially, manufacturing and technology slipped 1.2pc.

Geography-wise, Americas revenue grown 0.7pc sequentially, while Europe revenue slipped 2.3pc, India and Middle East business slipped 4.8pc, while APAC and other emerging market revenue slipped marginally.

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