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Wipros profit jumps to 8 percent in Q3

by IBNS 19 Jan 2015, 11:40 am

Mumbai, Jan 19 (IBNS): Indias third largest outsourcer Wipro reported a consolidated profit of Rs 2,193 crore on consolidated sales of Rs 12,085 crore for the three months ended December 31, 2014.

In dollar terms, Wipro registered a growth of 1.3 percent beating bigger players like Infosys and Tata Consultancy Services (TCS). Wipro’s Q3 dollar revenue also grew 3.7 percent sequentially - is a 12-quarter high.

The company also reported a 40 basis point rise in its operating margin but at 21.8 percent margins were much lower than Infosys and TCS, reports said.

Sources said as of 09.45 am on Monday, Wipro traded 7.7 percent higher at Rs 597.75 outperforming the broader IT sub-index on the National Stock Exchange (NSE) which traded 0.7 percent higher.