IT services major Wipro on Friday posted a 31.8 per cent increase in consolidated net profit at ₹ 2,544.5 crore for October-December 2018 compared to the year-ago period.

Wipro’s board has also approved an issue of bonus shares - offering one bonus share for every three held by shareholders, a BSE filing said.

The net profit in the October-December 2017 quarter was at ₹1,930.1 crore.

Wipro’s revenue from operations expanded 10.17 per cent to ₹15,059.5 crore during the period under review from ₹ 13,669 crore in the third quarter of FY2017-18.

“Our strategic investments, backed by strong client relationships and client spends towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter,” Wipro CEO and Executive Director Abidali Z Neemuchwala said.

The company’s IT services segment revenue, which accounts for a bulk of its topline, was at $2,046.5 million (around Rs 14,555 crore), up 1.8 per cent sequentially.

Wipro expects its IT services business revenue to be in the range of $2,047 million to $2,088 million for the March quarter, which translates into flat to 2 per cent growth sequentially.

“Issue of bonus equity shares in the proportion of 1:3, that is one bonus equity share of Rs 2 each for every three fully paid-up equity shares held... subject to approval of the members of the company,” the filing said.

The Bengaluru-based company has announced an interim dividend of Re 1 per equity share with January 30, 2019 as the record date, it added.