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.

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's headcount decreased by 1,157 in Q3, reversing two consecutive quarters of employee additions, taking the total headcount to 2,32,732 employees at the end of the quarter.

Wipro posted a 24.4% year-on-year rise in net profit for Q3 FY25, despite challenges in the IT sector. The Bengaluru company sees hopeful prospects for 2025, amidst cautious optimism from clients and ongoing macroeconomic challenges.

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.

BENGALURU/MUMBAI (Reuters) - 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.