Wipro announces results for the quarter ended December 31, 2024
Revenue grows 0.1% QoQ, above upper end of guidance
Operating margin 12 quarter high at 17.5%; Expands 0.7% QoQ
Net income grows 24.5% YoY and 4.5% QoQ; EPS growth of 24.4% YoY
Operating cash flows at 146.5% of net income.
EAST BRUNSWICK, N.J. | BANGALORE, India – Jan 17, 2025: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended December 31, 2024.
Highlights of the Results
Results for the Quarter ended December 31, 2024:
Gross revenue was at ₹223.2 billion ($2,608.9 million1), an increase of 0.1% QoQ and 0.5% YoY.
IT services segment revenue was at $2,629.1 million, decrease of 1.2% QoQ and 1.0% YoY.
Non-GAAP2 constant currency IT Services segment revenue increased 0.1% QoQ and decreased 0.7% YoY.
Total bookings3 was at $3,514 million. Large deal bookings4 was at $961 million, an increase of 6.0% YoY in constant currency2.
IT services operating margin5 for the quarter was at 17.5%, an increase of 0.7% QoQ and 1.5% YoY.
Net income for the quarter was at ₹33.5 billion ($392.0 million1), an increase of 4.5% QoQ and 24.5% YoY.
Earnings per share for the quarter was at ₹3.21 ($0.041), an increase of 4.6% QoQ and 24.4% YoY.
Operating cash flows of ₹49.3 billion ($576.4 million1), an increase of 3.0% YoY and at 146.5% of Net Income for the quarter.
Voluntary attrition was at 15.3% on a trailing 12-month basis.
Interim dividend declared of ₹6 ($0.0701) per equity share/ADS.
Capital allocation policy revised to increase the payout percentage from 45% – 50% to 70% or above of the net income cumulatively on a block of 3-year period.