Wipro Results Q3 2023: Revenue, Attrition rate, and 5 major takeaways
Wipro Results Q3 2023: Gross Revenue reported an increase of 3.1 per cent QoQ and 14.4 per cent YoY as it reached Rs 232.3 billion.
Wipro Results Q3 2023: India’s leading IT firm Wipro reported a 14.8 per cent sequential jump in net profit to Rs 3052.9 crore for the October-December period.
Here are the five Highlights and Key Takeaways of Wipro Q3 Results of FY 2023 –
1. Wipro Results Q3 2023: Net Income
Net Income for the quarter was at Rs 30.5 billion or $369.1 million, registering a growth of 14.8 per cent QoQ and 2.8 per cent YoY. “Margin growth was led by strong operational improvements and automation-led efficiencies. We generated strong operating cash flows at 143 per cent of our net income for the quarter and our EPS increased by 14.6 per cent quarter-over-quarter,” said Jatin Dalal, Chief Financial Officer, Wipro.
2. Wipro Results Q3 2023: Revenue Growth
Gross Revenue reported an increase of 3.1 per cent QoQ and 14.4 per cent YoY as it reached Rs 232.3 billion. “I am pleased to report that we have delivered another quarter of double-digit revenue growth. Our Total Bookings were over $4.3 billion, led by solid large deal signings of over $1 billion,” added Thierry Delaporte, CEO and Managing Director, of Wipro.
3. Wipro Results Q3 2023: Attrition Rate
The voluntary attrition rate moderated 180 bps from the previous quarter, landing at 21.2 per cent for the trailing twelve months for the quarter. Thierry Delaporte, CEO and Managing Director, said, “I am pleased to report that we have delivered another quarter of double-digit revenue growth. Our Total Bookings were over $4.3 billion, led by solid large deal signings of over $1 billion. We improved our margins by 120 basis points and our attrition moderated for the fourth quarter in a row.” The company has 258,744 employees across 66 countries.
4. Wipro Results Q3 2023: Dividend per share
Wipro declared an interim dividend of Rs 1 per equity share in its filing today after the quarterly results were declared. Earnings Per Share for the quarter was at Rs. 5.57, an increase of 14.6 per cent QoQ and 2.6 per cent YoY.
5. Wipro Results Q3 2023: Operating Margin
IT Services major improved its Operating Margin to 16.3 per cent and it stands at Rs 37.6 billion.
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