Wipro, a leading IT services company, reported a notable 24.4% year-on-year increase in consolidated net profit for the December quarter. Despite marginal revenue growth, the firm anticipates stable guidance for the March quarter.

Bengaluru-based IT services major Wipro posted a net profit of Rs 3,350 crore for the third quarter of the current financial year (Q3FY25), up 24.5 per cent from a year ago and 4.5 per cent quarter-on-quarter (Q-o-Q).

Wipro ADR rose four per cent to $3.435 on the American stock exchange even after the IT major exceeded Street expectations and reported a surge of 24 per cent in net profit during Q3FY25

Wipro posted a 24.4% year-on-year rise in net profit for Q3 FY25, despite challenges in the IT sector. The Bengaluru company sees hopeful prospects for 2025, amidst cautious optimism from clients and ongoing macroeconomic challenges.

Wipro's headcount decreased by 1,157 in Q3, reversing two consecutive quarters of employee additions, taking the total headcount to 2,32,732 employees at the end of the quarter.

By Haripriya Suresh and Sai Ishwarbharath B BENGALURU/MUMBAI (Reuters) -India's No. 4 IT services provider Wipro beat third-quarter estimates for revenue and profit on Friday, and its CEO hoped for a better year after facing macroeconomic challenges in 2024.