Wipro Ltd has said that its net profit for the third quarter ended December 31, 2014 stood at Rs 2193 crore as against Rs 2014 crore for the corresponding quarter of last year. Wipro names Jatin Dalal new CFO
Wipro Ltd has said that its net profit for the third quarter ended December 31, 2014 increased by 8.8%, at Rs 2193 crore as against Rs 2014 crore for the corresponding quarter of last year.
Total income for the given quarter stood at Rs 12,085 crore as against Rs 11,327 crore, last year.
Azim Premji, Chairman, Wipro, 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."
The company said that its margins for the IT Services for the given quarter stood at 21.8%.
Management Changes
Wipro said that Sursh Senapaty, the current Chief Financial Officer and Executive Director will retire on March 31, 2015 and Jatin Dalal Senior Vice President - Finance will take over the role of CFO from April 1, 2015.
Outlook
Wipro said that the company expects flat quarter-on-quarter revenues from the IT Services business to be in the range of $1.81 billion to $1.85 billion. The revenues from the given business segment for the quarter ended December 31, 2014 was $1.8 billion, up by 10% when compared against same quarter of last year.
Suresh Senapaty, Executive Director & Chief Financial Officer, Wipro, said – “During the quarter, we saw all round growth led by growth in our Healthcare & Life Sciences business and Global Infrastructure Services. The share of fixed price contracts increased to over 55% of engagements - a reflection of the maturity of Wipro’s customer engagement model.”
The company said that it added 44 new clients during the third quarter, including Levi Strauss & Co. Ltd. T K Kurien, Executive Director & Chief Executive Officer, Wipro, said, “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.”
The stock price of Wipro closed 0.79% lower, at Rs 555.25 on the Bombay Stock Exchange's Sensex on Friday January 16, 2015.
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