Wipro Q3 Results: Cons PAT jumps 24% YoY to Rs 3,354 crore; dividend declared at Rs 6 per share

IT services company Wipro on Friday reported 24% growth in its consolidated net profit for the quarter ended December 31, 2024, to Rs 3,354 crore, while revenue from operations rose by a marginal 0.5% to Rs 22,319 crore.

The company's board has declared an interim dividend of Rs 6 per share and fixed January 28 as the record date for the same. The dividend will be paid on or before February 15.

On a sequential basis, profit after tax (PAT) was up nearly 5% and the revenue increased just 0.1%.


During the quarter, IT services segment revenue grew 1% YoY to Rs $2.6 billion. The same fell by 1.2% QoQ.

“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," said Srini Pallia, CEO and MD, Wipro.

IT services operating margin for the quarter stood at 17.5%, an increase of 0.7% QoQ and 1.5% YoY.

“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,” said Aparna Iyer, CFO, Wipro.

The company booked total deals worth $3.5 billion with large deals making up for $961 million, an increase of 6% YoY in constant currency terms.

Wipro expects revenue from its IT services business segment to be in the range of $2,602 million to $2,655 million for the March quarter. This translates into sequential guidance of (-)1-1% in constant currency terms.

The company's board has approved its revised capital allocation policy that increases the committed payout percentage to 70% or above in a block of 3 years.

Voluntary attrition was at 15.3% on a trailing 12-month basis for the December quarter.

The operating cash flow stood at Rs 4,930 crore in the third quarter, an increase of 3% YoY and at 146.5% of net income for the quarter.

On Friday, Wipro shares closed 2.2% lower at Rs 281.7 on the NSE.