<p> Wipro, country’s third largest software exporter, on Wednesday reported 5.84% decline in its consolidated net profit at Rs 2,114.8 crore during the third quarter ending December 31,2016, compared with Rs 2,246 crore in the same period last year.<br /><br /></p>.<p>The company’s net profit on a sequential basis registered a muted growth of 1.81% compared with Rs 2,077 crore during the second quarter ending September 30, 2016.<br /><br />Commenting on the result, Wipro Chief Executive Officer Abidali Z Neemuchwala said the company’s bold investments in digital, BPaaS and cloud application position it as the partner of choice for the digital business for the clients.<br /><br />“Digital eco-system grew by 9.9% sequentially in the quarter and now constitutes 21.7% of our revenues,” he added. <br /><br />Interestingly, Wipro’s total revenues registered a growth of 6.27% at Rs 13,764.5 crore for the third quarter of FY 2017, compared with Rs 12,951.6 crore in the same period last fiscal. Sequentially it declined 0.95% compared with Rs 13,896.8 crore for the second quarter ending September 2016.<br /><br />Wipro’s IT services segment revenue stood at Rs 13,196.1 crore for the third quarter, registering a growth of 7.15% compared with Rs 12,314.7 crore in the same period last fiscal. On a sequential basis, it registered a growth of 4.45% compared with Rs 13,136.6 crore in the previous quarter.<br /><br />Topline growth<br /><br />Continuing with its single digit topline growth, the company announced its guidance for Q4 from IT services business to be in the range of $1,922 million to $1,941 million.<br /><br />The company added 4,891 employees during the quarter, taking the total headcount to 1,79,129. Wipro also registered a gross attrition rate of 16% and gross utilisation of 71.6%. Wipro’s Board has approved an interim dividend of Rs 2 per equity share. <br /><br />Wipro to acquire Brazilian IT firm<br /><br />Wipro has signed a deal to buy Brazilian software services firm InfoSERVER for $ 8.7 million to get access to the Latin American market. Two-decade old InfoSERVER, which has the largest Brazilian banks, will help Wipro to expand in its BFSI segment in the Latin American market.<br /><br /><br /></p>
<p> Wipro, country’s third largest software exporter, on Wednesday reported 5.84% decline in its consolidated net profit at Rs 2,114.8 crore during the third quarter ending December 31,2016, compared with Rs 2,246 crore in the same period last year.<br /><br /></p>.<p>The company’s net profit on a sequential basis registered a muted growth of 1.81% compared with Rs 2,077 crore during the second quarter ending September 30, 2016.<br /><br />Commenting on the result, Wipro Chief Executive Officer Abidali Z Neemuchwala said the company’s bold investments in digital, BPaaS and cloud application position it as the partner of choice for the digital business for the clients.<br /><br />“Digital eco-system grew by 9.9% sequentially in the quarter and now constitutes 21.7% of our revenues,” he added. <br /><br />Interestingly, Wipro’s total revenues registered a growth of 6.27% at Rs 13,764.5 crore for the third quarter of FY 2017, compared with Rs 12,951.6 crore in the same period last fiscal. Sequentially it declined 0.95% compared with Rs 13,896.8 crore for the second quarter ending September 2016.<br /><br />Wipro’s IT services segment revenue stood at Rs 13,196.1 crore for the third quarter, registering a growth of 7.15% compared with Rs 12,314.7 crore in the same period last fiscal. On a sequential basis, it registered a growth of 4.45% compared with Rs 13,136.6 crore in the previous quarter.<br /><br />Topline growth<br /><br />Continuing with its single digit topline growth, the company announced its guidance for Q4 from IT services business to be in the range of $1,922 million to $1,941 million.<br /><br />The company added 4,891 employees during the quarter, taking the total headcount to 1,79,129. Wipro also registered a gross attrition rate of 16% and gross utilisation of 71.6%. Wipro’s Board has approved an interim dividend of Rs 2 per equity share. <br /><br />Wipro to acquire Brazilian IT firm<br /><br />Wipro has signed a deal to buy Brazilian software services firm InfoSERVER for $ 8.7 million to get access to the Latin American market. Two-decade old InfoSERVER, which has the largest Brazilian banks, will help Wipro to expand in its BFSI segment in the Latin American market.<br /><br /><br /></p>