Wipro registered a 3.8 percent sequential decline in consolidated profit at Rs 2,455.9 crore for the quarter ended December 2019. However, total revenue from operations grew 2.3 percent sequentially to Rs 15,470.5 crore.
The company’s IT services business increased 3 percent QoQ to Rs 15,100.6 crore in Q3FY20. IT services revenue in dollar terms rose 2.2 percent sequentially to $2,094.8 million in quarter ended December 2019 and constant currency revenue growth stood at 1.8 percent QoQ.
The management commentary indicates that stable demand environment with some macro uncertainties. The margin has steadied in 17.5-18 percent mark with some provision reversals, but under-performance to peers may continue.