Country's third largest software services firm Wipro on Wednesday posted a 5.8% drop in its consolidated net profit to Rs 2,114.8 crore for the quarter ended December 31, 2016. The company had reported a net profit of Rs 2,246 crore in the corresponding period a year ago. Wipro's IT services segment revenue stood at $1,902.8 million, a sequential decrease of 0.7% and 3.5% rise year-on-year as per IFRS. For the March 2017 quarter, Wipro expects revenues from IT services business to be in the range of $1,922 million to $1,941 million. Wipro's IT products segment delivered revenue of Rs 570 crore ($84 million) for the quarter ended December 31, 2016.

Source: dna January 25, 2017 15:45 UTC