Wipro Q3 Net profit rose to 21%

IT major Wipro closed quarter 3 with strong performance and broad-based growth across all services and units. Wipro reported 20.8% year on year growth with net profit of Rs 2966.70 crore. It reported revenue of Rs 15670 crore, 1.3% higher from Rs 15470 crore in December 2019.

Wipro expects the range of services between $2102 million to $2143 million in march quarter. This grows between 1.5% to 3.5%. Thierry Delaporte, CEO and MD commented on the profits of Wipro i.e., the IT major delivers strong performance on various services like booking, revenue and margins. As the demand for digitalization has been increased the environment is steadily improving. Jobs were created and 2900 freshers were hired.

The cash flow statements improve year on year with 45% with an outstanding receivable.