Wipro shines more than Infosys, TCS in Q3FY19: Logs 31% rise in Q3 PAT to Rs 2,544 crore
Interestingly, Wipro's growth rate in PAT is better than what its peers have achieved during Q3FY19.
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07:10 AM IST
Surprisingly, it is Prem Azimji's Wipro who has outshine in IT services December 2018 (Q3FY19) quarter in comparison to peers TCS and Infosys. Wipro in its Q3FY19 result, posted a consolidated net profit of Rs 2.544 crore rising by a massive 31.43% from Rs 1,935.9 crore a year ago same period. Similarly, Q3FY19 PAT of Wipro also witnessed a double-digit growth of 34.93% compared to PAT of Rs 1,885.6 crore in preceding quarter. Consolidated revenue came in at Rs 15,059.5 crore in Q3FY19, registering an increase of 10.17% as against Rs 13,669 crore in Q3FY18 and also up by 3.56% from Rs 14,541 crore in Q2FY19.
Revenue was boosted due to stellar performance seen in BFSI segment, as Wipro recorded a 24.77% growth to Rs 4,597.9 crore in Q3FY19 compared to Rs 3,684.9 crore in Q3FY18.
For nine month period of FY19, Wipro's revenue stood at Rs 43,578.82 crore up by 7.02% from Rs 40,718.5 crore in the corresponding period of previous year. Also net profit was at Rs 6,525.1 crore in 9MFY19 higher by 9.63% from Rs 5,951.9 crore in 9MFY18.
On BSE, Wipro's share price finished at Rs 346.20 per piece up by Rs 9.80 or 2.91%.
Interestingly, Wipro's growth rate in PAT is better than what its peers have achieved during Q3FY19.
TCS recorded net profit of Rs 8,105 crore which was higher by 24.10% compared to the profit of Rs 6,531 crore witnessed in the same period a year ago. Q3FY19 was gradually up by 2.44% as against net profit of Rs 7,927 crore of Q2FY19.
On the other hand, Infosys posted a disappointing result with consolidated net profit declining by a massive 29.61% to Rs 3,610 crore compared to Rs 5,129 crore witnessed a year ago in the same period. Q3FY19 PAT was also down by 12.16% from Rs 4,110 crore registered in Q2FY19.
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