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Wipro Q3 Profit Dips to Rs 3,119 Crore, Declares Rs 6 Dividend Per Share

Wipro reported a consolidated net profit of Rs 3,119 crore for the October-December quarter, marking a decline both year-on-year and sequentially. The company's board declared an interim dividend of Rs 6 per share, with total payouts for the year reaching $1.3 billion. IT services revenue showed modest sequential growth, while the operating margin expanded to 17.6%, which the company noted as its best performance in recent years. CEO Srini Pallia highlighted growth in line with expectations and the strategic role of Wipro's AI platforms in driving client wins.

Key Points: Wipro Q3 Results: Profit Falls, Declares Rs 6 Dividend

  • Net profit down 7% YoY
  • Declares Rs 6 interim dividend
  • IT services revenue up 3.3% QoQ
  • Operating margin expands to 17.6%
2 min read

Wipro's net profit falls to Rs 3,119 crore in Q3, IT major declares Rs 6 dividend per share

Wipro's Q3 net profit fell to Rs 3,119 crore. The IT major declared an interim dividend of Rs 6 per share and reported margin expansion.

"In Q3, we delivered broad-based growth in line with our expectations. - Srini Pallia"

New Delhi, Jan 16

IT major Wipro on Friday reported a consolidated net profit at Rs 3,119 crore for the October-December quarter, down almost 4 per cent on-quarter and nearly 7 per cent on-year, the company's quarterly results showed.

The company's board declared an interim dividend of Rs 6 per share.

Wipro's gross revenue grew to Rs 23,560 crore, an increase of 1.2 per cent (on-quarter).

The operating margin for the quarter was 17.6 per cent, registering an expansion of 0.9 per cent QoQ.

On a sequential basis, IT services revenue rose 3.3 per cent from Rs 22,640 crore, reflecting modest QoQ growth.

The company expects revenue from IT Services business segment to be in the range of $2,635 million to $2,688 million, according to its filing.

"In Q3, we delivered broad-based growth in line with our expectations. As AI becomes a strategic imperative, Wipro Intelligence is emerging as a differentiator and contributed to several wins this quarter," said Srini Pallia, CEO and Managing Director.

"We saw greater adoption of our AI-enabled platforms and solutions, scaled AI-led delivery through WINGS and WEGA, and expanded our innovation network across global locations," he added.

Aparna Iyer, Chief Financial Officer, said "Our IT services operating margins at 17.6 per cent expanded both sequentially and on year-on-year basis.

"This is our best margin performance in last few years. Our continued focus on execution rigour also reflects in our strong operating cash flow of 135 per cent of net income in Q3. We are also pleased to share that the Board has declared an interim dividend of Rs 6 per share which will take the total payout for the year to $1.3 billion," Iyer added.

Voluntary attrition at the company was at 14.2 per cent on a trailing 12-month basis, said the company.

- IANS

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Reader Comments

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Priyanka N
As someone who works in the IT sector, the voluntary attrition rate of 14.2% is the real story here. It's still high, which means the job market pressure and employee churn continues. The margin expansion is good, but is it sustainable if they keep losing experienced people? 🤔
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Arun Y
Rs 6 dividend per share is a decent payout. For long-term investors like me, it's the consistent return that matters. The profit dip is a concern, but the revenue growth and margin improvement show the core business is stable. Let's see how the AI bets pay off.
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Sarah B
Respectfully, I think the narrative is being managed. "Broad-based growth" when profit is down nearly 7% YoY? The AI buzzwords are everywhere, but the bottom line is shrinking. The dividend is nice, but it doesn't fully offset the underlying performance issues.
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Karthik V
Good to see operating margins at a multi-year high! That's solid execution. The IT services revenue guidance for next quarter looks steady, not spectacular. In this global macro environment, steady is not bad at all. Wipro holding its ground. 💪
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Nisha Z
The cash flow number is impressive – 135% of net income! That means the company is generating real cash, not just accounting profit. That gives them flexibility for dividends, buybacks, or investing in new tech like AI. Financially, they seem to be on solid footing.

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