Wipro shines more than Infosys, TCS in Q3FY19: Logs 31% rise in Q3 PAT to Rs 2,544 crore

Surprisingly, it is Prem Azimji's Wipro who has outshine in IT services December 2018 (Q3FY19) quarter in comparison to peers TCS and Infosys. Wipro in its Q3FY19 result, posted a consolidated net profit of Rs 2.544 crore rising by a massive 31.43% from Rs 1,935.9 crore a year ago same period. Similarly, Q3FY19 PAT of Wipro also witnessed a double-digit growth of 34.93% compared to PAT of Rs 1,885.6 crore in preceding quarter. Consolidated revenue came in at Rs 15,059.5 crore in Q3FY19, registering an increase of 10.17% as against Rs 13,669 crore in Q3FY18 and also up by 3.56% from Rs 14,541 crore in Q2FY19. 

Revenue was boosted due to stellar performance seen in BFSI segment, as Wipro recorded a 24.77% growth to Rs 4,597.9 crore in Q3FY19 compared to Rs 3,684.9 crore in Q3FY18.

For nine month period of FY19, Wipro's revenue stood at Rs 43,578.82 crore up by 7.02% from Rs 40,718.5 crore in the corresponding period of previous year. Also net profit was at Rs 6,525.1 crore in 9MFY19 higher by 9.63% from Rs 5,951.9 crore in 9MFY18.

On BSE, Wipro's share price finished at Rs 346.20 per piece up by Rs 9.80 or 2.91%. 

Interestingly, Wipro's growth rate in PAT is better than what its peers have achieved during Q3FY19. 

TCS recorded net profit of Rs 8,105 crore which was higher by 24.10% compared to the profit of Rs 6,531 crore witnessed in the same period a year ago. Q3FY19 was gradually up by 2.44% as against net profit of Rs 7,927 crore of Q2FY19.

On the other hand, Infosys posted a disappointing result with consolidated net profit declining by a massive 29.61% to Rs 3,610 crore compared to Rs 5,129 crore witnessed a year ago in the same period. Q3FY19 PAT was also down by 12.16% from Rs 4,110 crore registered in Q2FY19.