Wipro profit at Rs 2544 cr in Q3, 31% growth
IT services company Wipro recorded a consolidated profit of Rs 2,544.5 crore, with an increase of 31.8 percent during the October-December, 2018 quarter. According to the filing given in the Bombay Stock Exchange (BSE), Wipro has also approved the issue of bonus shares. Under this, a bonus share will be given on every three shares of Wipro (Wipro). The company's profit during the October-December, 2017 quarter was Rs 1,930.10 crore in the same period a year ago.
Revenue of 14555 crores
Wipro CEO and Executive Director Abid Ali Z Neemuchwala said, "With the help of strategic investment, this quarter has been satisfactory for us from enterprise modernization and digital transformation." There have been gradual revenues increase from the IT Services Segment of the company during the quarter ended December, But it increased by 1.8 percent to Rs 14,555 crore, which is $ 204.65 million.
The company will issue bonus shares in the ratio 1: 3
Wipro is expected to remain between $ 204.8 million and $ 208.8 million from the IT services business in the March quarter, which could be 2 percent higher on a sequential basis. Filing said, 'Bonus equity share will be released in the proportion of 1: 3. This means that a bonus equity share of 2 rupees will be given for the three full-fledged paid-up equity shares. For this, you have to get permission from board members.
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