• Source:JND
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Wipro shares rose more than 8 per cent on Monday after beating Street expectations with a 24.4 per cent annual profit for the December quarter. The shares rose 8.33 per cent to trade at a level of Rs 305.35 on BSE, while on NSE, the stock rose 8.31 per cent to trade at a level of Rs 305.40 per share in the morning trade.

The rally was fueled by consolidated net profit for the December quarter rose 24.4 per cent year-on-year to Rs 3,354 crore, beating Street expectations on Friday, with Wipro, India's fourth-largest IT services company, leading the charge with "more confidence and resilience". Guides " 2025 year.

Its CEO and Managing Director Srinivas Polia says customers are cautiously optimistic and discretionary spending is slowly returning.

Wipro, which competes with big rivals like TCS and Infosys in the IT services market, reported better-than-expected net profit numbers for Q3 FY25, but said it was looking for softness in the Asia Pacific, Middle East and Africa (APMEA) and Europe regions, they said. Information.

The Bengaluru-based technology giant's revenue from operations rose 0.5 per cent to around Rs 22,319 crore. This was helped by growth in the banking, financial services and insurance sectors and the US geography.

For the coming March quarter, Wipro will see revenue from its IT services business at USD 2,602 million to USD 2,655 million, up from USD 2,602 million in the previous quarter, a 1 per cent decline and a 1 per cent increase in the previous quarter.

(With Inputs From PTI)