Wipro reports Q3 results amid market speculations

Andrew Dubbs
3 Min Read
Wipro reports Q3

Kotak Mahindra Bank reported a 10.22% rise in its December quarter consolidated net profit to ₹4,701 crore. The positive earnings report has propelled the bank’s stock, making it one of the top gainers of the day. The Tata Group’s hospitality firm, Indian Hotels, posted a notable 29% year-on-year increase in net profit at ₹582.32 crore for the three months ended December 2024.

This growth was driven by the consolidation of air and institutional catering business. Despite an increase in revenue from operations by about 32% to ₹334 crore from ₹253.4 crore in the previous fiscal’s December quarter, shares of Netweb Technologies were trading 4.63% lower at ₹2,230 apiece on the NSE. Laxmi Dental made an impressive debut on the NSE, listing at ₹542, a 26.63% rally.

The company’s initial public offer garnered an overwhelming 113.97 times subscription on the closing day of bidding. Rallis India saw a 12.70% decline in revenue from operations during the reviewed quarter, falling to ₹522 crore from ₹598 crore in the same period of the previous fiscal. The stock was trading 6.8% lower at ₹269.95 apiece on the NSE.

Wipro’s quarterly earnings under scrutiny

The online food delivery giant Zomato recently announced that Blinkit, its quick commerce arm, received a fresh capital infusion of ₹500 crore from the parent company. This brings Zomato’s total investment in Blinkit to approximately ₹2,800 crore.

At 12:34 PM, the S&P BSE SENSEX was trading at 77,129.40, up 510.07 points or 0.67%. Similarly, the NSE’s NIFTY50 index was trading at 23,334.95, up 131.75 points or 0.57%. Tech Mahindra posted a significant 92.63% year-on-year growth in its consolidated profit for the quarter, clocking in at ₹983.2 crore compared to ₹510.4 crore in the year-ago period.

However, on a quarter-on-quarter basis, profits fell by 21% from ₹1,250.1 crore. Wipro’s revenue from the IT services business for the March quarter is expected to be in the range of $2,602 million to $2,655 million, translating to a potential sequential decline of up to 1%. The Bengaluru-based tech giant declared an interim dividend of ₹6 per equity share.

Jio Financial Services posted a consolidated net profit of ₹294 crore, compared to ₹322 crore in the same quarter of the previous fiscal year. The company’s total income increased to ₹449 crore, up from ₹414 crore in the previous year.

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Andrew covers investing for considerable.com. He writes on the latest news in the stock market and the economy.