Thierry Delaporte
| Photo Credit: Shailendra Bhojak
Wipro Ltd. on Friday reported a 3% increase in net profit to ₹3,053 crore for the third quarter ended December compared with the year-earlier period.
Revenue expanded 14.3% to ₹23,229 crore. For FY23, Wipro has projected its IT services revenue to be in the range of 11.5% to 12% in constant currency terms.
Total bookings were over $4.3 billion, led by solid large deal signings of more than $1 billion, said CEO and Managing Director Thierry Delaporte said.
“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 optimisation,” he said.
He pointed out that although macroeconomic uncertainty continued, tech spending remained robust. “Our clients are looking for value-driven transformation, tighter governance, and improved return on investments. Cloud transformation continues to be a priority, even as we see a higher focus on returns,” Mr. Delaporte added.
The company said it had also improved margins after accounting for salary increases, promotions, and long-term incentives for senior leadership. “Our operating margins are now at 16.3%, which is an expansion of 120 basis points from last quarter,’‘ said Wipro CFO Jatin Dalal.
On the people front, Wipro saw a decline in employee headcount while attrition rate moderated to 21.2%. At the end of Q3, the company reported an employee count of 258,744 as against 259,179 in the previous quarter.
Mr. Delaporte said Wipro had rewarded and promoted a record number of employees so far in FY23. “The highest ever, in fact, with 30% more promotions than in FY22,” he added.
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