IT giant Wipro witnessed an 11.74% decline in its consolidated net profit, reaching Rs 2,694.2 crore in the third quarter ending on December 31, 2023. In comparison, the company had posted a profit of Rs 3,052.9 crore during the same period in the previous year. The consolidated revenue from operations also experienced a 4.4% decrease, amounting to Rs 22,205.1 crore in the December quarter, compared to Rs 23,229 crore in the corresponding period last year.
Specifically, the IT Services segment revenue for Wipro dropped by 4.5% year-over-year, totaling Rs 22,150.8 crore in the reported quarter, down from Rs 23,196 crore in the same period of 2022.
Wipro provided insight into its future expectations, stating that it anticipates revenue from the IT Services business segment to range between USD 2,615 million (approximately Rs 21,845 crore) and USD 2,669 million (about Rs 22,296 crore) in the March 2024 quarter. These figures offer a glimpse into the company's projected performance for the upcoming quarter.
(With Agency Inputs)
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