IT giant Wipro disclosed a consolidated net profit of Rs 3,119 crore for the October-December quarter, marking a decrease of nearly 4% from the previous quarter and close to 7% year-on-year. The company’s board announced an interim dividend of Rs 6 per share. Wipro’s gross revenue climbed to Rs 23,560 crore, showing a 1.2% increase from the previous quarter.
The operating margin for the quarter stood at 17.6%, with a 0.9% expansion quarter-on-quarter. Sequentially, IT services revenue grew by 3.3% from Rs 22,640 crore, indicating a modest quarter-on-quarter growth. Wipro anticipates revenue from its IT Services business segment to range between $2,635 million and $2,688 million, as per its filing.
CEO and Managing Director Srini Pallia stated, “In Q3, we achieved broad-based growth as expected. Wipro Intelligence is becoming a key differentiator as AI takes on a strategic role and contributed to numerous successes this quarter.” He also mentioned the increased adoption of AI-enabled platforms and solutions, along with the expansion of the innovation network globally through WINGS and WEGA.
Chief Financial Officer Aparna Iyer highlighted, “Our IT services operating margins at 17.6% expanded both sequentially and year-on-year, marking our best margin performance in recent years. Our strong operating cash flow of 135% of net income in Q3 reflects our continued focus on execution rigour.” Iyer further added that the Board declared an interim dividend of Rs 6 per share, bringing the total payout for the year to $1.3 billion.
The company reported a voluntary attrition rate of 14.2% on a trailing 12-month basis.
