Wipro meets Q3 estimates, profit up 2%

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IT services major, Wipro, reported a 2% rise in profits to Rs 2,243 crore for the third quarter, while revenue grew 7.23% to Rs 12,860 crore.

Wipro, the third largest IT services firm, showed IT services revenue grew sequentially or over the previous quarter by 0.3% to $1.84 billion, meeting its forecast and analyst expectations. Operating margins, calculated as sales minus costs, stood at 20.2%, which was impacted marginally due to spending on backup plans during the Chennai floods.

The company had reported profits of Rs 2,203 crore on revenues of Rs 11,992 crore in the October to December quarter in 2014. Read Articles

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