Wipro rose 1.37% to Rs 560 at 9:24 IST on BSE after consolidated net profit rose 4.28% to Rs 2014.70 crore on 3.06% increase in total income from operations (net) to Rs 11327.40 crore in Q3 December 2013 over Q2 September 2013.
The result was announced after market hours on Friday, 17 January 2014.
Meanwhile, the BSE Sensex was down 20.31 points, or 0.10%, to 21,043.31.
On BSE, so far 1.77 lakh shares were traded in the counter, compared with an average volume of 2.31 lakh shares in the past one quarter.
The stock hit a high of Rs 566.50 and a low of Rs 552.60 so far during the day. The stock hit a 52-week high of Rs 575.35 on 17 January 2014. The stock hit a 52-week low of Rs 315.30 on 31 May 2013.
The stock had outperformed the market over the past one month till 17 January 2014, rising 6.65% compared with the Sensex's 2.19% rise. The scrip had outperformed the market in past one quarter, rising 11.58% as against Sensex's 3.17% rise.
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The large-cap company has an equity capital of Rs 493.10 crore. Face value per share is Rs 2.
In dollar terms, Wipro's IT services revenue were reported at $1,678.4 million in Q3 December 2013, an increase of 2.9% over Q2 September 2013 and an increase of 6.4% over Q3 December 2012.
IT services revenues in rupee terms was Rs 10330 crore in Q3 December 2013, an increase of 20% over Q3 December 2012.
IT services earnings before interest and tax (EBIT) was Rs 2380 crore in Q3 December 2013, an increase of 33% over Q3 December 2012.
Wipro expects revenues from IT services business to be in the range of $1,712 million to $1,745 million, including the revenues from its acquisition, for the quarter ending 31 March 2014. (The guidance is based on the following exchange rates: GBP/USD at 1.63, Euro/USD at 1.37, AUD/USD at 0.92, USD/INR at 62.0).
Azim Premji, Chairman of Wipro, commenting on the results said, As the global economy is progressing towards stability, we see optimism amongst clients, especially in the West. Corporations are leveraging technology to reduce operational costs and investing resources in differentiating themselves in the marketplace.
T K Kurien, Executive Director & Chief Executive Officer of Wipro, said, "Our focus on account management has yielded encouraging results. We continue to execute to our strategy for superior engagement with clients while investing in emerging technologies to drive towards a higher growth trajectory. During the quarter, our Global Infrastructure Services business grew strongly on revenues."
Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said - "Our strategy of 'standardization at the core' is yielding results. Our investments in automation and productivity tools have driven efficiencies and helped us expand margins of IT Services by 54 basis points to 23%."
Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally.
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