Wipro Q1 results: Earns consolidated PAT of ₹2,870 crore, rising by 12%; key highlights here
Wipro Q1 results: Azim Premji-backe Wipro earned a consolidated net profit of ₹2,870.1 crore in the first quarter of FY24, rising by 11.95% YoY. This profitability is attributed to owners of the company. Wipro expects IT Services business segment revenue to be in the range of $2,722 million to $2,805 million.
This translates to sequential guidance of -2.0% to +1.0% in constant currency terms. 1. Gross Revenue reached ₹228.3 billion ($2.8 billion1), an increase of 6.0% YoY.
2. IT Services Segment Revenue increased to $2,778.5 million, an increase of 0.8% YoY and an increase of 6.1% YoY in INR terms. 3.
Non-GAAP2 constant currency IT Services segment revenue decreased 2.8% QoQ, increased 1.1% YoY. 4. Total Bookings3 was at $3.7 billion and large deal bookings4 was at $1.2 billion, up by 9% YoY.
5. IT Services Operating Margin5 for the quarter was at 16.0%, up 112 bps YoY. 6.
Net Income for the quarter was at ₹28.7 billion ($349.8 million1), an increase of 12.0% YoY. 7. Earnings Per Share for the quarter was at ₹5.23 ($0.061), an increase of 11.5% YoY.
8. Operating Cash Flows at 130% of Net Income for the quarter was at ₹37.5 billion ($457.1 million1). 9.
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