Wipro net profit falls 11.7% in December quarter

New Delhi: IT company Wipro Friday posted an 11.74 per cent decline in its consolidated net profit to Rs2,694.2 crore in the third quarter ended December 31, 2023.

The company posted a profit of Rs3,052.9 crore in the year-ago period.

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The consolidated revenue from operations of Wipro also fell 4.4 per cent to Rs22,205.1 crore during the December quarter as against Rs23,229 crore a year ago.

The company’s IT Services segment revenue dropped 4.5 per cent on a year-over-year basis to Rs22,150.8 crore during the reported quarter from Rs23,196 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 $2,615 million (around Rs21,845 crore) to $2,669 million (about Rs22,296 crore) in March 2024 quarter.

PTI