IT services and consultancy firm Wipro reported a 24.66% rise in net profits in the just-concluded October-December quarter. The profits were Rs 3,364 crore during the quarter, as against Rs 2,700 crore in the year-ago period.
The revenue increased marginally by 0.5% to Rs 22,319 crore. In the year ago period, it was at Rs 22,205 crore. Wipro Limited today announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended December 31, 2024.
In the January-March quarter, Wiprp expects revenue from its IT Services business segment to be in the range of USD 2,602 million to USD 2,655 million. Srini Pallia, CEO and Managing Director, said, “In a seasonally weak quarter, our strong in quarter execution helped us deliver above the top end of our revenue guidance. We also achieved our highest margins in the past three years while continuing to invest in our people.”
“We closed 17 large deals with a total value of USD 1B. The company is advancing steadily and investing decisively to lead our clients in an AI-driven future.” Aparna Iyer, Chief Financial Officer, said “We expanded margins for a fourth consecutive quarter, enabling us to achieve our previously stated target margin of 17.5%.”
What Else Wipro?
In the third quarter, the company continued to win large and strategic deals across industries. A US-based health insurance company has selected Wipro for a multi-phase enterprise transformation program. A US-based leading media corporation has selected Wipro to transform its advertising operations and drive growth in a competitive market.
A leading Indian private banking and financial services institution has selected Wipro to transform and modernize its Core Banking System. A global Telecom network solutions organization has selected Wipro as a Strategic partner to provide network integration and business application services for its 5G software products in Japan.
One of the largest health insurers in the USA has renewed its engagement with Wipro to operate an end-to-end platform to support its growing (Affordable Care Act) ACA business. A global leader in legal technology, payments and banking infrastructure has selected Wipro to improve its overall business efficiency and overhaul its IT infrastructure.
Wipro has over 230,000 employees and business partners across 65 countries.
