However, revenue from operations increased marginally to Rs 22,318.8 crore in the December 2024 quarter as against Rs 22,301.6 crore reported in the preceding quarter same year.
On a year-on-year (YoY) basis, the IT firm’s net profit grew 24.48% while revenue rose 0.51% in Q3 FY25.
Profit before tax was at Rs 4,453.3 crore during the quarter, up 4.10% quarter on quarter (QoQ) and up 25.37% YoY.
In dollar terms, Wipro's gross revenue for Q3 FY25 stood at $2,608.9 million, registering a 0.1% increase QoQ and 0.5% rise YoY. The revenue from its IT services segment was $2,629.1 million, marking a decline of 1.2% QoQ and a 1% decrease YoY.
The operating margin for Wipro's IT services segment in Q3 FY25 was 17.5%, registering a growth of 0.7% QoQ and 1.5% YoY. The Non-GAAP constant currency revenue for the IT services segment increased by 0.1% QoQ but decreased by 0.7% YoY.
For the quarter ending 31 March 2024, Wipro expects revenue from the IT services business segment to be in the range of $2,602 million to $2,655 million. This translates to sequential guidance of -1.0% to 1.0% in constant currency terms.
During the quarter, the IT company's total booking was at $3,514 million. Large deal bookings stood at $961 million, an increase of 6% YoY in constant currency.
The company said that its closing employee count in IT Services stood at 232,732. Voluntary attrition was at 15.3% on a trailing 12-month basis.
Srini Pallia, CEO and managing director, said, “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.”
Aparna Iyer, chief financial officer, said “We expanded margins for a fourth consecutive quarter, enabling us to achieve our previously stated target margin of 17.5%. Our EPS grew 24.4% YoY and operating cash flow was at 146.5% of net income. We are pleased to share that the board has approved our revised capital allocation policy that increases the committed payout percentage to 70% or above in a block of 3 years.”
Meanwhile, the company’s board has declared an interim dividend of Rs 6 per equity share (par value Rs 2 each) to members as of the record date 28 January 2025. The dividend will be paid on or before 15 February 2025.
Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs.
The scrip slipped 2.15% to end at Rs 281.85 on the BSE.