Wipro reports 29.6 pct growth in net profit during Q3

Global software major Wipro on Friday reported Rs 2,544 crore net profit for the third quarter of fiscal 2018-19, registering 29.6 per cent annual growth, up from Rs 1,936 crore in the same period a year ago. In a regulatory filing on the BSE, the Bengaluru-based IT firm said gross income for the quarter (Q3) under review grew 10.2 per cent year-on-year (YoY) to Rs 15,060 crore from Rs 13,669 crore in the like period a year ago.

Under the International Financial Reporting Standards, net income was $366 million and gross income $2,200 million for the quarter. Revenue from global IT services business was $2,047 million for the quarter, up 3.8 per cent YoY from $1,973 million and 1.8 per cent sequentially from $2,010 million a quarter ago.