Epic Update: Wipro

Wipro  ’s third quarter consolidated net profit rose near 1 percent quarter-on-quarter (17 percent year-on-year) to Rs 1,729 crore, helped by new outsourcing deals.
The India’s third largest software services exporter’s net sales, were however disappointing, up just 0.3 percent sequentially (13 percent YoY) to Rs 9,613 crore.
The company’s net profit was slightly better than street expectations of Rs 1,685 crore, according to a CNBC-TV18 poll, although revenue growth disappointed.
Wipro’s revenue from IT services gained 13 percent YoY to Rs 8554 crore.

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