Wipro Q3 Results: Company will distribute dividend of Rs 6 per share, profit increased by 4.5% to ₹ 3,354 crore - wipro q3 results net profits increase 4 5 percent qoq to Rs 3354 declares dividend of Rs 6 per share ~ Latest News

Wipro Q3 Results: Leading IT company Wipro released the results for the December quarter of the current financial year on Friday, January 17. The company said that its net profit in the December quarter increased by 4.5 percent on a quarterly basis to Rs 3,354 crore. This is higher than Dalal Street estimates. However, the company’s December quarter revenue remained almost flat at Rs 22,319 crore and registered a growth of just 0.1 per cent on a quarterly basis.

In a poll conducted by Moneycontrol, analysts had estimated Wipro’s net profit to rise 5 per cent quarter-on-quarter to Rs 3,040 crore and revenue to fall 0.6 per cent to Rs 22,176 crore during the December quarter.

Along with quarterly results, Wipro also announced dividend distribution. The company said that it will pay an interim dividend of Rs 6 per share to its shareholders. Also, the company changed its capital allocation policy and promised to pay at least 70 percent of the net income in the next 3 years.

Wipro’s operating margin increased to 17.5 percent in the December quarter, which is its highest level in the last three years. The company’s voluntary attrition rate also declined to 15.3 percent in the December quarter, which suggests that the company is being successful in retaining its employees for longer periods than before.

Wipro’s revenue from IT services declined quarter-on-quarter to $2.63 billion in the December quarter. However, in constant currency terms, it grew 0.1 percent quarter-on-quarter, which is in line with the upper limit of the company’s target. The company’s total bookings in the December quarter stood at $3.5 billion. While big deal bookings increased by 6 percent year-on-year to $96.1 million.

Wipro won 17 mega deals during the December quarter, with a total contract value of $1 billion. These include important contracts in industries like healthcare, financial services, media and telecom.

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