Wipro Stock Surges 8% on Strong Q3 Earnings

New Delhi, Jan 20 (PTI) Shares of Wipro on Monday surged over 8 per cent after the firm topped street expectations with a 24.4 per cent year-on-year rise in consolidated net profit for the December quarter.

The stock jumped 8.33 per cent to Rs 305.35 on the BSE and 8.31 per cent to Rs 305.40 on the NSE.

Wipro on Friday topped street expectations with a 24.4 per cent year-on-year rise in consolidated net profit for the December quarter at Rs 3,354 crore, as the top brass of India's fourth-largest IT services company guided for a "more hopeful and resilient" 2025.

Its CEO and Managing Director Srinivas Pallia said clients are cautiously optimistic, and added that discretionary spending is slowly returning.

Wipro, which competes with larger rivals such as TCS and Infosys in the IT services market, reported better-than-expected net profit numbers for Q3 FY25, but called out softness in Asia Pacific, Middle East and Africa (APMEA) and Europe regions.

The Bengaluru-based tech major saw its revenue from operations rise a marginal 0.5 per cent to about Rs 22,319 crore aided by momentum in banking, financial services, and insurance space as well as Americas geography.

For the coming March quarter, Wipro sees revenue from IT services business in the range of USD 2,602 million to USD 2,655 million, which sequentially translates into a band of 1 per cent decline to 1 per cent growth.