Wipro reported an 11% drop in net profit for the quarter ended December 31, 2023, to Rs 2,694.2 crore, down from Rs 3,052.9 crore in the same quarter the previous year.
However, the net profit was larger than in the preceding quarter, when it was Rs 2,646.3 crore.
"Deal booking momentum remained strong in a seasonally soft quarter." "Our large deals have grown by 20% year to date," said Thierry Delaporte, Wipro's chief executive officer and managing director.
The company's revenue from operations declined to Rs 22,205.1 crore in 2022, from Rs 23,290 crore in the same period the previous year. The previous quarter's revenue (Q2FY24) was Rs 22,515.9 crore.
The company's sales from its IT business declined 1.1 percent sequentially to Rs 22,151 crore. The EBIT margin of its IT business was 16 percent. It was 16.1% in the previous quarter.
Wipro has provided a sequential guidance range of -1.5 percent to 0.5 percent in constant currency terms for Q4FY23. "We expect revenue from our IT Services business segment to be in the range of $2,615 million to $2,669 million," the business stated in a statement.
During the October-December quarter, voluntary attrition at Wipro reached a 10-quarter low of 12.3 percent.
Wipro also declared a Rs 1 interim dividend per share. "The payment of the interim dividend will be made on or before February 10, 2024," the company stated in a regulatory statement. In anticipation of the findings on Friday, the company's stock had surged more than 4%. Wipro's stock finished at Rs 466.10 per share on the BSE.
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