Share price of IT major Wipro Ltd. surged over 8% on Monday, after the company's net profit and revenue rose in the third quarter of fiscal 2025.
For the quarter ended Dec. 31, 2024, Wipro's revenue came in at Rs 22,319 crore, slightly above analyst estimates of Rs 22,218 crore, showing a marginal increase of 0.1%, compared to the previous quarter.
The company's net profit rose 4% quarter-on-quarter at Rs 3,354 crore, which also exceeded market expectations of Rs 3,057.4 crore.
In terms of profitability, Wipro's earnings before interest and taxes increased by 5% to Rs 3,863 crore, surpassing the analyst consensus of Rs 3,628 crore. The company's operating margin improved to 17.3%, higher than the estimated 16.33%.
Most brokerages maintained their rating on the shares of Wipro Ltd., given the margin growth and improving demand commentary.
Wipro Share Price Today
The scrip rose as much as 8.32% to Rs 305.40 apiece. It pared gains to trade 7.25% higher at Rs 302.40 apiece, as of 09:37 a.m. This compares to a flat NSE Nifty 50.
It has risen 26.54% in the last 12 months. Total traded volume so far in the day stood at 15 times its 30-day average. The relative strength index was at 54.
Out of 45 analysts tracking the company, 12 maintain a 'buy' rating, 14 recommend a 'hold' and 19 suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 3.9%.
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