Wipro Limited reported its financial results for the third quarter ended December 31, 2024. The IT services major posted a steady performance with robust profit growth, reflecting efficient cost management despite challenging market conditions.
Key Financial Highlights (₹ in Crores):
- Revenue from Operations: ₹22,318 crore
- QoQ: Slight decline of 0.2% (₹22,363 crore in Q2 FY25)
- YoY: Increase of 0.5% (₹22,205 crore in Q3 FY24)
- Total Income: ₹23,322 crore
- QoQ: Decline of 0.3% (₹23,364 crore in Q2 FY25)
- YoY: Growth of 2.3% (₹22,803 crore in Q3 FY24)
- Net Profit: ₹3,367 crore
- QoQ: Increase of 4.3% (₹3,226 crore in Q2 FY25)
- YoY: Surge of 24.6% (₹2,700 crore in Q3 FY24)
- EBITDA: ₹4,453 crore, reflecting a strong operational margin.
Expense Highlights:
- Total expenses for the quarter stood at ₹18,870 crore, a minor decrease of 0.6% from ₹18,986 crore in Q2 FY25.
- Employee benefits remained the largest cost component at ₹13,303 crore, reflecting stable management.
- Sub-contracting expenses accounted for ₹2,590 crore, showcasing a steady reliance on external expertise.
Nine-Month Performance (April-December 2024):
- Revenue from Operations: ₹66,584 crore
- YoY: Marginal decline of 1.4% (₹67,552 crore in the same period last year).
- Net Profit: ₹9,629 crore
- YoY: Increase of 17.2% (₹8,259 crore YoY).
Wipro Ltd has declared an interim dividend of ₹6 per equity share for shareholders as of January 28, 2025, with payment scheduled by February 15, 2025. Alongside this announcement, the IT giant reported a robust 24.6% year-on-year increase in net profit for the third quarter, reflecting strong cost management and operational efficiency despite challenging market conditions.
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 $1B. We are 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%. Our EPS grew 24.4% YoY and operating cash flow was at 146.5% of net income. We are pleased to share that the board has approved our revised capital allocation policy that increases the committed payout percentage to 70% or above in a block of 3 years. In addition, board has also declared an interim dividend of INR 6 per share.”
