Wipro clocks 21 pc consolidated profit in Q3
Jan 13, 2021
Bengaluru (Karnataka) [India], January 13 : Software services firm, Wipro Limited posted 21 per cent surge in consolidated net profit for the October-December (third) quarter of 2020-21, a company statement revealed.
The consolidated net profit for the third quater of FY21 was at Rs 2,968 crore compared to Rs 2,456 crore clocked during the corresponding quarter in FY20.
Consolidated revenue for the Q3 FY21 was at Rs 15,670 crore compared to Rs 15,470 crore clocked in the Q3 FY20.
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."
Jatin Dalal, Chief Financial Officer said, "Our margins are now at a 22 quarters high. The expansion was led by improved revenue growth trajectory and excellence in operations with several metrics at an all-time high. Our Operating Cash Flows grew by 45 per cent YoY with a significant improvement in outstanding receivables."
Regarding the outlook for the quarter ending March 31, 2021, Wipro said in the statement, "We expect Revenue from our IT Services business to be in the range of $2,102 million to $2,143 million. This translates to a sequential growth of 1.5 per cent to 3.5 per cent."
