Wipro on Friday reported a net profit of Rs 2,510 crore for October-December period, beating analysts' estimates.
That marked an increase of nearly33 per cent from net profit of Rs 1,889 crore registered in previous quarter, and nearly 30 per cent from that of Rs 1,931 in quarter endedDecember 31, 2017, according to a regulatory filing by Wipro.
The net profit - helped by higher revenue from its IT services - stood higher thananalysts' average estimate ofRs 2,325 crore, news agency Reuters reported citing Refinitiv Eikon data.The Bengaluru-based company's revenue rose 10.2 per cent to Rs 15,059.5 crore, while revenue from its IT services grew 13 per cent year-on-year.Our strategic investments, backed by strong client relationships and client spends, towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter, said Abidali Z Neemuchwala, CEO and executive director, Wipro.In a separate statement, Wipro said its board recommended a bonus in proportion of 1:3, that is one bonus equity share for every three fully paid-up equity shares held.Shares in Wipro closed 2.91 per cent higher at Rs 346.20 apiece on BSE, ahead of earnings announcement by company.(With agency inputs)