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BSE, NSE, forex and money markets, commodity markets like oilseeds, pepper and metals are closed today for the festival of “Ram Navami”

The Bombay Stock Exchange, National Stock Exchange, forex and money markets, commodity markets like oilseeds, pepper and metals are closed today for the festival of “Ram Navami”.

 

However, bullion, sugar and grain markets will remain open as usual.

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Defrauding Shareholders

SEBI restrains promoters of Zenith Infotech with ad-interim order

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Wipro's third quarter profit up 17%; revenues up by 13%

Wipro has guided for revenue of $1,575-$1,610 million from IT services in the first quarter, up just 1.6% at the higher end

Wipro 's third quarter consolidated net profit rose near 1% quarter-on-quarter (17% year-on-year) to Rs 1,729 crore. India's third largest software services exporter's net sales were, however, disappointing, up just 0.3% sequentially (13% y-o-y) to Rs9,613 crore.

 

Wipro's revenue from IT services rose 13% y-o-y to Rs8554 crore.

 

Its US dollar revenue growth though disappointed. Wipro's IT service revenue rose just 0.5% q-o-q (3% y-o-y) to $1,585 million, just meeting the lower end of its guidance.

 

“The cross currencies have been volatile and impacted our financial performance in the quarter,” said Suresh Senapaty, ED and CFO.

 

Excluding the forex impact, Senapaty said margins were stable sequentially and the company has shown significant improvement in cash flow generation for the year.

 

Wipro has guided for revenue of $1,575-$1,610 million from IT services in the first quarter, up just 1.6% at the higher end.

 

Wipro shares closed at Rs369.05, down 1.5% on NSE on Thursday. The Indian stock markets are closed on Friday.

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