Shares of Wipro, the country's third-largest IT services firm by market capitalization, on Thursday zoomed nearly 8 per cent after it posted a 17 per cent jump in consolidated net profit for the quarter ended on September 30, 2021.
The stock jumped 7.59 per cent to its 52-week high of Rs 723.65 on BSE.
On NSE, it gained 7.62 per cent to its 52-week high of Rs 723.90.
The IT company posted a 17 per cent jump in consolidated net profit to Rs 2,930.6 crore for the quarter ended on September 30, 2021.
The company had posted a net profit of Rs 2,484.4 crore in the same period a year ago.
Wipro CEO and MD Thierry Delaporte said, the Q2 results demonstrate that the company’s business strategy is working well. “We grew at over 4.5 per cent organic sequential growth for a second quarter in a row, resulting in a 28 per cent YoY growth in the first half of this financial year,” he said.
In the meantime, Moneycontrol reported that as regards Q3FY22, the company expects revenue from the IT services business to be in the range of $2,631 million to $2,683 million, which translates to a sequential growth of 2 percent to 4 percent.
Jatin Dalal, Chief Financial Officer at Wipro, said “we sustained operating margins in Q2 in a narrow band even after absorbing the full impact of recent acquisitions and investing significantly in business across sales, capabilities, and talent.”