Wipro shares surge nearly 8% post Q3 earnings

Shares of IT services major Wipro on Monday surged nearly 8 per cent after the company reported an 8 per cent growth in consolidated net profit in the December quarter.

Wipro's scrip gained 7.78 per cent to Rs 598.45 at the BSE.

On the NSE, it climbed 7.82 per cent to Rs 598.50. The blue-chip stock was the top gainer on both the key indices - Sensex and Nifty.

"Wipro Ltd Q3 FY15 performance was largely above our estimates on all front," Daljeet S Kohli, Head of Research India Nivesh Securities Private Limited said.

Wipro had on Friday reported an 8 per cent growth in consolidated net profit to Rs 2,192.8 crore (Rs 21.92 billion) in the December quarter, helped by growth in healthcare and infrastructure services business.

The country's third largest software services company's net profit was at Rs 2,014.7 crore in the year-ago period.

Consolidated revenue grew 7 per cent to Rs 12,085.1 crore (Rs 120.85 billion) in October-December quarter this fiscal from Rs 11,327.4 crore (Rs 113.27 billion) in the same quarter of 2013-14. The figures are on IFRS basis.

IT services revenue rose by 7 per cent to $1.79 billion in the third quarter.