Wipro Q1 Results FY2024, Profit at Rs. 28,860 million

On 13th July 2023, Wipro announced its quarterly results for the last quarter of FY2023.

Wipro Financial Highlights:

- Revenue from operations for Q1 FY2024 was reported at Rs.228,310 million from Rs. 215,286 million for the same period last year.
- Profit before tax was reported at Rs. 37975 million in Q1FY24 from Rs. 33520 crores for the same period last year.
- Wipro reported a net profit of Rs. 28,860 crores for the period.

Wipro Business Highlights:

- In international markets, the America 1 region posted revenue at Rs. 65,607 million. America 2 region posted revenue at Rs. 68,303 million. The European region posted revenue of Rs. 67,134 million. APMEA region posted a revenue of Rs. 26,510 million.
- IT Segment reported revenue of Rs. 228,248 million.

Key Deals Won:

- To consolidate and modernize its contact center operations, a Fortune 100 global healthcare payer has extended its partnership with Wipro for an extended period.
- A major international cycle manufacturer has hired Wipro to manage an end-to-end transformation program for business operations in sales, manufacturing, finance, and supply chain across 15 countries. 
- Under the requirements of the Airport's Carbon Accreditation (ACA), a major US airport chose Wipro to assist them in lowering their carbon footprint.
- An energy services and delivery company has selected Wipro to standardize their software development process.
- An international provider of transportation, e-commerce, and business services has chosen Wipro to assist in tackling issues with business transformation, cost optimization, and capacity management. 
- One of the biggest home improvement retailers has chosen Wipro to assist them in running and modernizing their core financial and retail operations.

Commenting on the results, Thierry Delaporte, CEO, and Managing Director, Wipro said: “Wipro’s first-quarter results come with a strong backbone of large deal bookings, robust client additions, and resilient margins. “Despite a gradual reduction in clients’ discretionary spending, we maintained new business momentum. We earned our clients’ trust with strong delivery, innovation, and expanded services that strengthen our long-term businesses, and help capture market share. The launch of Wipro ai360 and the USD 1 billion investment solidifies Wipro’s position as a leading transformation partner that delivers the results and innovation our clients need to future-proof their businesses.”