NEW DELHI: Wipro’s consolidated net profit for the December quarter stood at Rs 3,354 crore, up by 24.4 per cent from the corresponding quarter of the previous year. The IT major’s operational revenue increased modestly by 0.5 per cent growth, reaching Rs 22,319 crore.
The company projected the revenue from the IT services in the range of $2,602 million and $2,655 million for the March quarter.
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Additionally, the firm has announced an interim dividend of Rs 6 per equity share/ADS and its board has endorsed an updated capital allocation policy, raising the committed payout ratio to 70 per cent or higher over a three-year period.
The revised capital allocation strategy represents an increase from the previous 45-50 per cent to 70 per cent or above of net income, calculated cumulatively over three years, according to the company’s statement.
Meanwhile, CEO and Managing Director Srini Pallia said that effective execution during the quarter enabled the company to exceed its revenue guidance, despite the traditionally slower business period.
“We also achieved our highest margins in the past three years while continuing to invest in our people,” Pallia said in the statement.
The company secured 17 substantial deals amounting to $1 billion.
“We are advancing steadily and investing decisively to lead our clients in an AI-driven future,” Pallia added.
The company’s chief financial officer, Aparna Iyer, said that the company enhanced its margins for four successive quarters, reaching their stated objective of 17.5 per cent.
“We are pleased to share that the board has approved our revised capital allocation policy that increases the committed payout percentage to 70 per cent or above in a block of 3 years. In addition, board has also declared an interim dividend of Rs 6 per share,” Iyer said.
