Wipro revenues up by 18 per cent

IT services major Wipro announced on Friday that it’s consolidated revenues in the third quarter ending December 31 amounted to Rs. 11,330 crores, an increase of 18 per cent over the corresponding quarter of the previous year. The company also registered a net profit of Rs. 2,010 crores, 27 per cent more than what it made in the previous year.

Dollar-denominated earnings from IT services amounted to $1.68 billion, 6.4 per cent higher than in the previous year. Revenues from IT services amounted to Rs. 10,330 crores, an increase of 20 per cent. Net profit from IT services amounted to Rs. 2,380 crores, an increase of 33 per cent over the previous year.

Executive director and CEO T.K. Kurien said the company expects revenues in the fourth quarter to range between $1.712 billion and $1.745 billion.

Chairman Azim Premji said the company senses “optimism among clients, especially in the West,” as there is expectation that the advanced economies are progressing towards “stability.”

Wipro’s overall revenues include revenues of $ 43 million that is attributable to Opus CMC, which it acquired in December 2013.

The company announced an interim dividend of Rs 3 per share.