Wipro posted its earnings for the quarter ended September on Thursday evening after market close.

What Happened: Wipro posted a consolidated net profit of ₹3,208.8 crore, a 21% jump from the ₹2,646 crore net profit posted in the same quarter last year.

Revenue from operations for the quarter stood at ₹22,301.6 crore, down marginally from the ₹22,515.9 crore posted in the corresponding quarter of the previous year. Analysts expected the company’s revenue to come in at ₹22,250 crore with a net profit of ₹3,000 crore.

“We expect revenue from our IT Services business segment to be in the range of $2,607 million to $2,660 million. This translates to sequential guidance of (-) 2.0% to 0.0% in constant currency terms,” the company said in the press release.

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The company’s peers HCLTech and TCS posted their quarterly numbers earlier in the month. Infosys reported results earlier today.

Infosys posted a net profit of ₹6,506 crore, a 4.7% year-on-year increase. Revenue from operations for the quarter stood at ₹40,986 crore, up 5% from the ₹38,994 crore posted in the corresponding quarter of the previous year.

The Tata Group company’s net profit for the July-September quarter rose 5% to ₹11,909 crore, slightly below analysts’ estimates of ₹12,572 crore. Revenue increased by 7.5% to ₹64,259 crore, aligning with expectations.

HCLTech reported a 10.5% jump in net profit to ₹4,235 crore, with revenue up 8.2% to ₹28,862 crore, surpassing analyst forecasts of ₹28,590 crore in revenue and ₹4,045 crore in profit.

Price Action: Wipro’s share price was down 0.64% to close at ₹528.75 on Thursday.

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