Wipro posts Rs 30.5 bn as Q3 net - Chennai News

Chennai, Jan 13 (IANS) Technology services and consulting company Wipro Ltd A losed the third quarter of FY24 with a net profit of Rs 30.5 billion.

by IANS | Updated Jan 13, 2023

Wipro posts Rs 30.5 bn as Q3 net - Chennai News

The company board at their meeting on Friday declared an interim dividend of Re 1 per equity share.

Wipro had earned a revenue of Rs 232.3 billion (Q3FY22 Rs.203 billion) and a net profit of Rs 30.5 billion (Rs 29.6 billion).

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According to CEO and Managing Director Thierry Delaporte, the margins improved by 120 basis points and the employee attrition moderated for the fourth quarter in a row.

"We are continuing to gain market share as a result of deepening client relationships and higher win rates," Delaporte said.

Chief Financial Officer Jatin Dalal said: "This expansion of margins was after absorbing the investments we made in our people by way of salary increases, promotions and long-term incentives for our senior leadership. 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."

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

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