Wipro revenue up 7 percent to $1.9 bn in Q3

Wipro revenue details in Q3 fiscal 2015-16
IT services provider Wipro announced 7 percent increase in revenue to $1.9 billion in its third quarter ended December 31, 2015.

IT services revenue of Wipro rose 9 percent to $1,861 million. IT Services segment profit was $375 million.

For comparison, Infosys revenue rose 8.5 percent to $2,407 million, while profit growth was flat at $524 million.

TCS revenue grew 5.4 percent to $4,145 million, while profit increased 6.07 percent to $926 million.

Earlier, Wipro announced that the recent rain and flood will have a negative impact on the revenue of Wipro during the third quarter.

The IT outsourcing company generated 13.4 percent revenue from Global Media & Telecom (-0.2 percent), 26.2 percent (+4.4 percent) from Finance Solutions, 18.4 percent (+3.2 percent) from Manufacturing & Hitech, 12 percent (+4.9 percent) from Healthcare, Life Sciences & Services, 15.6 percent (+13 percent) from Retail, Consumer Goods & Transportation, and 14.4 percent (-10.4 percent) from Energy, Natural Resources & Utilities.

52.8 percent revenue came from Americas, 24.8 percent from Europe, 11 percent from India & Middle East business and 11.4 percent from APAC and Other Emerging Markets, said Wipro on Monday.

Wipro shared details of its key client wins in the digital space. But the Bangalore-based software exporter did not name those digital clients.

Abidali Neemuchwala, CEO-designate of Wipro, said: “We are focused on driving market share growth in our core businesses through integrated domain and technology services, while investing for the future in building differentiated Digital capabilities.”

The IT Services segment of Wipro had a headcount of 170,664 in Q3 against 168,396 in Q2. The net addition of employees at Wipro was 2,268 in the third quarter of fiscal 2016. The net addition of resources at Infosys was 5,407, while net addition at TCS was 9,071 employees.

Wipro rival Infosys had 1,93,383 employees till December 2015, while TCS had 344,691 resources.

Wipro added 39 new customers during the third quarter.

Wipro completed the transaction to acquire cellent AG, a IT and software services company in the DACH region of Germany, Austria and Switzerland.

Wipro has also signed agreement to acquire Viteos Group, a BPaaS provider for the Alternative Investment Management Industry.

Wipro said its employee base increased to 170,664 in Q3 from 168,396 in Q2.

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