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January 19, 2016updated 31 Aug 2016 9:57am

Wipro meets forecasts with Q3 net profit up 2%

News: The company plans to optimise its IT spend and invest in digital to transform business.

By Vinod

Wipro has reported a 2% increase in its third quarter net income to Rs 22.3bn ($338m). For the quarter ending 31 December 2015, revenues were Rs 128.6bn ($1.9bn), an increase of 7% YoY.

Revenue for IT services increased 9% to Rs 123.1bn ($1.86bn), while IT services profit was Rs 24.8bn ($375m).

In Q3, Wipro engaged with various clients to design and deploy their enterprise processes using SaaS products.

Some of the engagements included cloud customer relationship management (CRM) process rationalisation for a UK-based gas and utility firm, and simplification of lead & opportunity management processes for a US equipment rental company.

Wipro also signed a deal with IBM to use its Bluemix cloud platform for development and deployment of mobile, analytics and machine learning solutions.

The company has also partnered with category-defining Quote-to-Cash software firm Apttus to provide contract lifecycle management, configure-price-quote & revenue management solutions to clients across industries.

Wipro member of the board & CEO T K Kurien said: "We delivered revenues in line with our guidance. We saw a pick-up in large deal closures led by Global Infrastructure Services.

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"It is becoming increasingly clear that customers want to simplify operations and optimize their IT spend while investing in Digital to transform their business."

The company said it will drive market share growth in its core businesses via integrated domain and technology services, and invest for the future in building differentiated Digital capabilities.

Last month, Wipro acquired German IT consulting and software service provider Cellent from Landesbank Baden-Wuerttemberg for €73.5m.

Wipro has also agreed to acquire the US-based back-office outsourcing company Viteos Group for $130m.


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