Wipro net profit falls 11.7% to Rs 2,694 crore in December quarter

The consolidated revenue from operations of Wipro also fell 4.4 per cent to Rs 22,205.1 crore during the December quarter as against Rs 23,229 crore a year ago.

Wipro net profit falls 11.7% to Rs 2,694 crore, image credit: Reuters

IT company Wipro on Friday posted an 11.74 per cent decline in its consolidated net profit to Rs 2,694.2 crore in the third quarter ended December 31, 2023.

The company posted a profit of Rs 3,052.9 crore in the year-ago period.

The consolidated revenue from operations of Wipro also fell 4.4 per cent to Rs 22,205.1 crore during the December quarter as against Rs 23,229 crore a year ago.

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The company's IT Services segment revenue dropped 4.5 per cent on a year-over-year basis to Rs 22,150.8 crore during the reported quarter from Rs 23,196 crore during the same period of 2022.

Wipro said that it expects revenue from the IT Services business segment to be in the range of USD 2,615 million (around Rs 21,845 crore) to USD 2,669 million (about Rs 22,296 crore) in March 2024 quarter.

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Wipro December quarter