Wipro beats estimates, profit up 4.5% to Rs 3,354 crore

The country’s fourth-largest IT company Wipro on Friday reported a sequential increase both on the revenue and profit front in the quarter ended in December on the back of improved demand in the US market and the banking, financial services, and insurance (BFSI) vertical. The numbers were also was above Bloomberg consensus estimate.

Consolidated revenue rose 0.1% quarter-on-quarter to Rs 22,318.80 crore. This was above Bloomberg estimate of Rs 22,221 crore. Net profit rose 4.5% to Rs 3,353.8 crore, which was also above estimates of Rs 3,060 crore.