BENGALURU — IT
software major Wipro Ltd reported a 4.5 per cent sequential increase in
consolidated net profit to INR 3,354 crore for the October-December quarter of
the current financial year compared to the preceding quarter.
The company has declared an interim dividend of INR 6 per
share.
The total revenue of the company remained flat at INR 22,319
crore during the third quarter while the IT services revenue for the quarter
declined 1.2 per cent sequentially to $2.63 billion.
Wipro’s operating margin improved by 0.7 per cent to a
3-year high of 17.5 per cent. The company also recorded a decline in its
voluntary attrition rate to 15.3 per cent on a trailing 12-month basis,
reflecting better employee retention.
The IT major’s large deal bookings rose 6 per cent
year-on-year to $961 million. The new deals bagged by the company were
healthcare, financial services, media, and telecommunications. One major deal
involved partnering with a US-based health insurer to implement AI-powered
platforms aimed at improving operational efficiency and customer experience.
Another notable win saw Wipro transform the core banking system of an Indian
private bank, leveraging its expertise to build a scalable digital platform.
Wipro is upbeat on its outlook ahead with a projected IT
services revenue for the March quarter in the range of $2,602-2,655 million,
which works out to a sequential change of (-)1 per cent to 1 per cent in
constant currency terms.
Wipro CEO Srini Pallia said the company’s strong in-quarter
execution allowed it to surpass revenue guidance in a seasonally weak quarter.
The company also achieved its highest margins in three years while continuing
to invest in its workforce and innovation.
