Wipro vs HCL Tech Q3 earnings: 5 most important comparisons you should know
Revenue Growth: The revenues of Wipro came in at ₹22,205 crore in Q3, indicating a 4.4% decrease compared to the revenue of ₹23,229 crore reported in the corresponding period last year. Sequentially, revenue also saw a 1.4% drop. In constant currency, revenue dropped by 1.7% QoQ and 6.9% YoY.
Contrastingly, HCL Tech reported consolidated revenue of ₹28,446 crore for the quarter ending in December, reflecting a 6.5% YoY growth. On a sequential basis, HCL observed a 6.7% increase in revenue. In constant currency terms, the revenue grew by 6% QoQ and 4.3% YoY.
Also Read: Wipro Q3 Results: PAT down 12% YoY to ₹2,694 crore, revenue drops 4.4% YoY. All you need to know Net Profit Growth: HCL Tech posted a net profit growth, with a significant 13.5% surge to ₹4,350 crore in Q3 FY23, compared to the preceding quarter's ₹3,832 crore. On a YoY basis, there was a 6.2% improvement, surpassing the net profit of ₹4,096 crore in the same quarter a year ago.
Wipro, on the other hand, reported a consolidated net profit of ₹2,694 crore in Q3 FY24, registering a modest 1% QoQ increase but posting a notable 12% decline on a YoY basis. Also Read: HCL Tech Q3 results: Board approves interim dividend of ₹12 per share. Check record date Deal Wins: During Q3 FY24, Wipro reported total bookings of $3.8 billion in constant currency, registering a marginal 0.2% increase QoQ but indicating a significant 13.5% YoY decline.
Large deal bookings amounted to $0.9 billion in Q3 FY24, marking an 8.3% YoY decrease. In comparison, HCL Tech secured new deal wins totaling $1.9 billion in the third quarter, which included 18 large deals. Workforce Dynamics: Wipro experienced a net reduction of 4,473 employees in Q3, concluding the quarter with a workforce of
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