Overview
- Wipro posted consolidated revenue of ₹23,556 crore for the December quarter, topping estimates on growth in parts of its Americas business including communications, health and consumer, with banking inching up 1.6%.
- Wipro’s net profit came in at ₹3,119 crore after a ₹302.8 crore one-time labour code impact, while total deal bookings reached $3.34 billion, higher year-on-year but lower than the prior quarter.
- Wipro guided fourth-quarter revenue to be flat to up 2% sequentially, implying $2.64 billion to $2.69 billion, and declared an interim dividend of ₹6 per share.
- Tech Mahindra reported revenue of ₹14,393 crore, surpassing expectations as communications rose 4.7% and manufacturing grew 11.7% in the quarter.
- Tech Mahindra’s net profit increased year-on-year to ₹1,122 crore but missed forecasts after a ₹2.72 billion labour code charge, and net new order bookings climbed to $1.1 billion from $745 million a year earlier.