Wipro Q3 net profit rises 31.8% to Rs 2,544.5 crore; revenue from operations expands 10.17% to Rs 15,059.5 crore

New Delhi: IT services major Wipro Friday posted a 31.8 percent increase in consolidated net profit at Rs 2,544.5 crore for October-December 2018 compared to the year-ago period. Wipro’s board has also approved an issue of bonus shares - offering one bonus share for every three held by shareholders, a BSE filing said. The net profit in the October-December 2017 quarter was at Rs 1,930.1 crore. [caption id=“attachment_4779651” align=“alignleft” width=“380”] File photo of Azim Premji, Chairman, Wipro. Reuters[/caption] Wipro’s revenue from operations expanded 10.17 percent to Rs 15,059.5 crore during the period under review from Rs 13,669 crore in the third quarter of FY2017-18. “Our strategic investments, backed by strong client relationships and client spends towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter,” Wipro CEO and Executive Director Abidali Z Neemuchwala said. The company’s IT services segment revenue, which accounts for a bulk of its topline, was at $2,046.5 million (around Rs 14,555 crore), up 1.8 percent sequentially. Wipro expects its IT services business revenue to be in the range of $2,047 million to $2,088 million for the March quarter, which translates into flat to 2 percent growth sequentially. “Issue of bonus equity shares in the proportion of 1 :3, that is one bonus equity share of Rs 2 each for every three fully paid-up equity shares held… subject to approval of the members of the company,” the filing said. The Bengaluru-based company has announced an interim dividend of Re 1 per equity share with 30 January, 2019 as the record date, it added.     To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day. To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.