Wipro Q3 net up 8.8% at Rs2,193 cr

Wipro Ltd, India's third largest software exporter, has reported a consolidated net profit of Rs2,193 crore for the third quarter ended 31 December 2014, an increase of 8.84 per cent from the comparable quarter of the previous year.

Wipro also announced an interim dividend of Rs5 per equity share of Rs2 face value each.

The interim dividend will be paid on 2 February 2015, the company said in a filing with the Bombay Stock Exchange (BSE).

Consolidated revenues for the quarter ended 31 December 2014 increased by 6.69 per cent to Rs12,085 crore.

The software services company said its IT services revenue for the quarter rose to Rs11,344 crore from Rs10,923 crore in Q3 of FY14.

''We expect revenues from our IT services business to be in the range of $1,814 million to $1,850 million,'' the company said.

''Developments in the Global currency and commodity markets are affecting major economies unevenly even as India anticipates growth led by next-generation of economic reforms,'' Azim Premji, chairman of Wipro, said.

''We had a very satisfying quarter in terms of sequential revenue growth. We continue to see strong deal momentum as we are seen as the partner of choice for customers seeking to differentiate by using digital technologies as well as save costs in the traditional business,'' T K Kurien, executive director and chief executive officer of Wipro, said.

''During the quarter, we saw all round growth led by growth in our healthcare and life sciences business and global infrastructure services. The share of fixed price contracts increased to over 55 per cent of engagements - a reflection of the maturity of Wipro's customer engagement model,'' Suresh Senapaty, executive director and chief financial officer of Wipro, said.

Senapati, meanwhile will retire as chief financial officer and executive director on attaining the age of superannuation on 31 March 2015, after completing a distinguished career spanning over three decades with the company. Jatin Dalal, senior vice president, finance will take over the role of CFO, effective 1 April 2015.