Ravalika Medipally January 19, 2015

Third largest software corporation, Wipro surged nearly 8 percent growth when compared to prior year. The consolidated profit was raised-up in the October-December quarter.

On Monday India’s largest multinational IT services company Wipro rallies over 7.8 percent in trade since July 2013 i.e., post third quarter. The overall performance in revenue was turn down from various sources as energy and utilities vertical. When compared the company’s net profit standards mostly owns in oil prices.

At 10.04 am, the company was trading at Rs. 597.35 on BSE (Bombay Stock Exchanges) upto 7.6 per cent, while Sensex Index rose 0.6% (28,290.25 points), BSE IT index rose 0.6% (11,054.57 pts) and Teck index was up 0.7% (6,048.33 points).

Commenting on the performance, Wipro Chairman Azim Premji 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.” Daljeet S Kohli, Head of Research IndiaNivesh Securities said: “Wipro Q3 FY15 performance was largely above our estimates on all front,”

Wipro Ltd has jumped to 7.8 percent and consolidated revenue increased to Rs. 12,085.1 in October to December quarters. Its sharpest intra day gains better than the expected earnings. On basis of IFRS Wipro’s services grow by 7% i.e., $1.79 US in Q3. Other IT stocks as Infosys Ltd fell down 0.3 percent of Rs. 2,108.65, TCS down to 0.3 percent Rs. 2,524.45, Tech Mahindra Ltd fell to 0.1 precent Rs. 2,810.

“The board of directors of the company will meet on 28 January to 30 January 2015 to consider the unaudited financial results for the quarter and half year ended 31 December 2014 and the payment of interim dividend”, the company said in a notice to BSE.

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