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In absolute terms, Wipro sees revenue in the range of $2,602 million to $2,655 million in the fourth quarter.
For the December quarter, Wipro reported constant currency revenue of 0.1%, which is at the higher than the company’s guidance of 0% growth to a decline of 2%, which it had issued at the end of the September quarter.
For the December quarter, Wipro reported US Dollar revenue of $2,629.1 million, which was in-line with expectations of $2,624 million.
In rupee terms, the company reported revenue of ₹22,285 crore, which, on a quarter-on-quarter basis, grew by 0.4% and was marginally higher than the CNBC-TV18 poll of ₹22,176 crore.
EBIT for the quarter stood at ₹3,899 crore, a growth of 4.5% from the September quarter, and also higher than the CNBC-TV18 poll of ₹3,653 crore.
EBIT Margin for the quarter expanded by 70 basis points from the previous quarter to 17.5% from 16.8% in September. The margin figure was also 100 basis points above the CNBC-TV18 poll of 16.5%.
Large deal wins for the quarter stood at $961 million, which is a decline of 35% on a sequential basis.
Wipro has also announced a change in its capital allocation policy. It will now pay 70% or above of its net income cumulatively on a block of a three-year period, in comparison to the earlier figure of 45% to 50%.
“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. We closed 17 large deals with a total value of $1B. We are advancing steadily and investing decisively to lead our clients in an AI-driven future,” Srini Palia, CEO and MD of Wipro was quoted as saying.
Shares of Wipro ended 2.2% lower on Friday, ahead of the earnings announcement at ₹281.6. The US-listed shares of the stock fell 4% overnight after Infosys had reported its results after market hours on Thursday.
First Published: Jan 17, 2025 3:55 PM IST
