Wipro Q3 Results: IT Firm's Net Profit Jumps 24.5% To Rs 3,350 Crore

In terms of verticals, BFSI saw a 3.4 per cent YoY growth but a 3 per cent sequential decline. The Energy, Natural Resources, and Utilities sector fell by 9.3 per cent YoY & 1.5 per cent sequentially

Bengaluru-based IT services major Wipro reported a net profit of Rs 3,350 crore for the third quarter of FY25, marking a 24.5 per cent year-on-year (YoY) increase. On a quarter-on-quarter (QoQ) basis, profit rose by 4.5 per cent. Revenue for the quarter stood at Rs 22,320 crore, up 0.5 per cent from the same period last year. Sequentially, revenue growth remained flat at 0.1 per cent.

The company’s performance exceeded Bloomberg’s estimates, with revenue expected at Rs 22,221.4 crore and net profit anticipated to be Rs 3,059.7 crore.

The IT services segment revenue for Wipro was $2.62 billion, reflecting a 1 per cent year YoY growth and a 1.2 per cent increase QoQ.

The company also reported large deal bookings of $961 million, a 6 per cent YoY increase, although this was lower than the $1.5 billion in large deal bookings reported in the previous quarter.

Wipro has projected revenue for its IT services business segment to be between $2,602 million and $2,665 million. This represents a sequential guidance range of a decline of 1.0 per cent to a growth of 1.0 per cent in constant currency terms.

Srini Pallia, chief executive officer (CEO) and managing director (MD), 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 $1 billion. We are advancing steadily and investing decisively to lead our clients in an AI-driven future.”

The IT services operating margin for the quarter stood at 17.5 per cent, marking a 1.5 per cent YoY increase.

Growth across geographies and verticals was either subdued or declined. Americas 1 grew by 3.3 per cent YoY and 3.6 per cent sequentially, while Americas 2 saw a 0.8 per cent YoY increase but a 1.2 per cent sequential decline. Europe experienced a 4.9 per cent YoY and 5.4 per cent sequential decline, while APMEA dropped by 8 per cent YoY.

In terms of verticals, BFSI saw a 3.4 per cent YoY growth but a 3 per cent sequential decline. The Energy, Natural Resources, and Utilities sector fell by 9.3 per cent YoY and 1.5 per cent sequentially.

Aparna Iyer, chief financial officer (CFO), said: “We expanded margins for a fourth consecutive quarter, enabling us to achieve our previously stated target margin of 17.5 per cent. Our EPS grew 24.4 per cent YoY, and operating cash flow was at 146.5 per cent 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 per cent or above in a block of three years. In addition, the board has also declared an interim dividend of Rs 6 per share.”