BENGALURU: IT major Wipro on Friday reported a 2.8 % increase in its consolidated net profit at Rs 3,053 crore for the third quarter that ended on December 31, 2022. Its net profit stood at Rs 2,969 crore in the same quarter last year.
The company's consolidated revenues for the third quarter were up 14.3% at Rs 23,229 crore compared to Rs 20,314 crore in the same quarter last fiscal.
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Wipro's IT Services Revenue for the quarter increased 10.4% YoY and total bookings were up by 26% and large deal bookings were up by 69% YoY.
Thierry Delaporte, CEO and Managing Director, Wipro said, "Our Total Bookings were over $4.3 billion, led by solid large deal signings of over $1 billion. We improved our margins by 120 basis points and our attrition moderated for the fourth quarter in a row."
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"We are continuing to gain market share as a result of deepening client relationships and higher win rates. Clients are turning to us to help them manage an evolving macro environment and balance their transformation goals with cost optimization. Our ability to deliver on client objectives regardless of where they are in their cloud journeys is positioning us favourably in a consolidating market," he added.
The company expects revenue from the IT Services business for the full year to be in the range of 11.5% to 12.0%, in constant currency terms. Its voluntary attrition moderated 180 bps from the previous quarter, landing at 21.2% for the trailing 12 months for the quarter.