Sunday, January 29, 2023

Wipro Q3 results: Net profit rises 2.8% to Rs 3,053 crore; revenue up 14%

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NEW DELHI: IT major Wipro on Friday posted 2.8% jump in its consolidated net profit for the third quarter ended December 2022.
The company’s net profit came in at Rs 3,053 crore as compared to a profit of Rs 2,969 crore in same period a year ago.
The Bengaluru-based company’s revenue jumped 14.3% to Rs 23,229 crore in the period under consideration. It expects revenue from IT services business for the full year to be in the range of 11.5-12% in constant currency terms.
In a regulatory filing, Wipro said that it received record total bookings of over $4.3 billion in TCV terms, and grew 26% year-on-year for the quarter.
Wipro closed 11 large deals, resulting in TCV of over $1 billion, depicting a rise of 69% year-on-year.
In addition, voluntary attrition moderated 180 bps from previous quarter, landing at 21.2% for the trailing 12 months for the quarter, the company said.
The company continues to gain market share as a result of deepening client relationships and higher win rates, CEO and managing director Thierry Delaporte said.
“Clients are turning to us to help them manage an evolving macro environment and balance their transformation goals with cost optimization. Our ability to deliver on client objectives regardless of where they are in their cloud journeys is positioning us favourably in a consolidating market,” the Wipro CEO said.
He added: “As we move ahead, we expect to continue to benefit from these trends and help clients build future-proof, resilient enterprises.”
Wipro declared an interim dividend of Re 1 per equity share.




Quearn – Do QnA

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