Wipro , India's fourth-largest IT services company, reported higher-than-expected third-quarter revenue on Friday, helped by positive momentum in its banking, financial services, and insurance (BFSI) vertical and in the Americas geography.

However, revenue remained subdued due to furloughs and seasonal weakness meeting its guidance, rising marginally by 0.1% YoY to Rs 22,318 crore from Rs 22,205 crore in December quarter 2023-24.

Bengaluru-based IT services major Wipro posted a net profit of Rs 3,350 crore for the third quarter of FY25, up 24.5 per cent from a year ago. Profit was up 4.5 per cent quarter-on-quarter (Q-o-Q).

Wipro's revenue dropped 0.7% year-on-year in the Dec quarter but met its guidance, with a forecasted growth of -2% to 0% for the next quarter. The company reported a positive outlook with increasing AI spending,

Wipro Ltd's Q3 net profit rose about 4.5 percent quarter-on-quarter to Rs 3,354 crore, beating Street estimates. Revenue was flat at Rs 22,319 crore for the fiscal third quarter. A Moneycontrol poll of nine brokerages estimated Wipro's Q3 consolidated net profit to shrink 5 percent quarter-on-quarter to Rs 3,

Wipro reported a strong Q3 FY25, exceeding expectations with a 24.4% rise in net profit. The IT services company sees cautious optimism and returning discretionary spending in 2025.

For the fourth quarter of FY25, which would be March 31, 2025 period, Wipro expects revenue of its IT Services business segment to be in the range of $2,602 million to $2,655 million. This translates to sequential guidance of (-)1.