Wipro reports 21% growth in Q3 net profit

Mumbai, Jan 13 : IT major Wipro on Wednesday reported 20.85 per cent growth in its consolidated net profit for the October-December quarter at Rs 2,968 crore.

The company had reported a net profit of Rs 2,455.9 crore during the corresponding period of the last fiscal (FY2019-20).

Its revenue increased 1.3 per cent during the period under review to Rs 15,670 crore.

Thierry Delaporte, CEO and Managing Director said: “Wipro has delivered a second consecutive quarter of strong performance on order booking, revenue and margins. Five of our sectors grew over 4 per cent sequentially.”

“We closed our largest ever deal win in Continental Europe. The demand environment is steadily improving, especially for digital transformation, digital operations, and cloud services. I am also pleased to share with you that we have moved into our new organization structure and are stabilizing quickly,” the CEO said.

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Jatin Dalal, Chief Financial Officer said that the company’s margins are at a 22-quarter high. The expansion was led by improved revenue growth trajectory and excellence in operations with several metrics at an all-time high, he added.

“Our operating Cash Flows grew by 45 per cent YoY with a significant improvement in outstanding receivables,” Dalal said.

Disclaimer: This story is auto-generated from IANS service.

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