Wipro Q3 Results: Dividend Declared Amid Profit Dip
Wipro has announced an interim dividend of Rs 6 per share for FY25, even as its consolidated net profit for the December quarter declined to Rs 3,119 crore from Rs 3,242 crore a year ago.
Key Takeaways
- Dividend: Rs 6 per share interim dividend declared for FY25.
- Profit: Net profit fell to Rs 3,119 crore in Q3 FY25.
- Revenue: Operational revenue declined to Rs 24,975 crore.
- Bookings Surge: Total bookings jumped 31% YoY to $4.6 billion.
- Margin Improvement: Operating margin expanded to 16%.
Financial Performance at a Glance
The IT giant’s revenue from operations stood at Rs 24,975 crore for the quarter, down from Rs 25,927 crore in the same period last fiscal. In constant currency terms, this represents a 4.9% year-on-year decline.
However, the IT services segment showed resilience. Its revenue reached $2,902.1 million, marking a 1.8% sequential growth and a marginal 0.1% increase year-on-year in constant currency.
Strong Order Book & Margin Expansion
A highlight of the quarter was the robust growth in order bookings. Wipro secured total bookings worth $4.6 billion, a significant 31% increase compared to last year. Large deal bookings were particularly strong at $1.6 billion, surging 58% year-on-year.
The company also improved its profitability metrics. The operating margin for Q3 FY25 expanded by 40 basis points to 16%. The voluntary attrition rate moderated to 11.4%.
Management Commentary
Wipro CEO & MD, Amit Chaudhry, expressed satisfaction with the “consistent performance.” He stated, “We delivered another quarter of consistent performance, with sequential growth in revenue, expansion in margins, and strong growth in order bookings.”
He added, “Our large deal bookings were the highest in the last 10 quarters, and we continue to see good traction in deal closures.”
Dividend Details
The company’s board has set January 31, 2025 as the record date for determining shareholder eligibility for the interim dividend. The payment will be made to investors on February 11, 2025.
