Bengaluru : Wipro Ltd a leading technology services and consulting company announced Quarter ended December 31,2023 financial results reported a 11.90 per cent year-on-year (YoY) drop in consolidated net profit at Rs 2,700 crore compared with Rs 3,065 crore in the same quarter last year. The profit degrowth was in line with analyst estimates. Consolidated sales for the quarter came in at Rs 22,205 crore compared with Rs 23,229 crore in the same quarter last year. Offshore revenue as percentage of services stood at 59.8 per cent. Wipro said its dollar revenue came in at $2.66 billion for the quarter, down 1.7 per cent sequentially and 6.9 per cent on year-on-year basis.
Operating margin for the quarter stood at 16 per cent, down 11 basis points sequentially. The IT major reported total bookings of $3.8 billion, down 13.5 per cent YoY in CC terms. Large deals wins stood at $0.9 billion, down 8.3 per cent in CC terms. Attrition for the quarter stood at 14.2 per cent.
Wipro announced an interim dividend of Re 1 per share. The IT major set January 24 as the record date for the same. Wipro said it will pay the interim dividend on or before February 10. The IT firm said its voluntary attrition continued to moderate sequentially, coming in at 10-quarter low of 12.3 per cent in the December quarter.
Thierry Delporte, CEO and Managing Director said during press conference announcing financial results, “Our investments in people, processes, and business operations are continuing to pay off, In a seasonally soft quarter, deal booking momentum remained strong. Our large deals recorded a 20 percent Year-to-date growth. Further we are starting to see early signs of a return to growth in Consulting, as demonstrated by the double-digit growth in order bookings in our Capco Business”, he added. Further he said, “Under our ai360 strategy, AI is now embedded across most of our existing solutions and client offering. W are deploying AI internally across all business and fuctional areas as well, with the goals of efficiency, productivity, and scale. We are confident that these investments will allow us to capitalize on emerging opportunities, as the macro environment improves”.
