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Wipro Q3 results better than estimates: IT giant announces bonus shares, dividend; 5 takeaways

The revenue of the IT large cap rose 3.4 percent over the previous quarter to Rs 15,059 crore. The growth in revenue was aided by its $1.5-billion deal with U.S.-based Alight Solutions LLC and Net profit rose by 35 per cent to Rs 2,544 crore in the October-December period. 

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Wipro Q3 results better than estimates: IT giant announces bonus shares, dividend; 5 takeaways
Wipro reported Rs 46,847.9 crore as on December 2018 in free reserves, securities premium account and capital redemption reserve account. Reuters

Wipro Ltd.’s announced its Q3 results on Friday. The company reported a rise in Net profit by 35 per cent to Rs 2,544 crore in the October-December period. The revenue of the IT large cap rose 3.4 percent over the previous quarter to Rs 15,059 crore. The growth in revenue was aided by its $1.5-billion deal with U.S.-based Alight Solutions LLC.  However, IT services revenue jumped nearly 1.8 percent to $2,046.5 million.

Here are the 5 key takeaways:

1. EBIT: Earnings before interest and taxes of the Bengaluru-based company increased 43 per cent over the previous quarter to Rs 2,775.7 crore.

2. Bonus shares: The company will issue bonus shares in the proportion of 1:3—one bonus equity share for every three fully paid-up equity shares held.

3. Dividend of Re 1: Wipro announced an interim dividend of Re 1 per equity share of par value, and Rs 2 each to the members of the company. However, the payment of the interim dividend will be made on or before Feb. 6.

4. Better reserves: Wipro reported Rs 46,847.9 crore as on December 2018 in free reserves, securities premium account and capital redemption reserve account.

5. Increase in share capital: The company has increased the authorised share capital from Rs 1,126.5 crore Rs 2,526.5 crore by creation of additional 700 crore equity shares of Rs 2 each.

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TAGS:
Wipro
Written By: ZeeBiz WebTeam
Updated: Fri, Jan 18, 2019
05:56 pm
New Delhi, ZeeBiz WebDesk
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