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Wipro posts flat Q1 net profit at Rs 3352 crore
The Hindu··17 Jul
Wipro on July 16 reported net profit of Rs 3,352 crore, nearly flat year on year, as revenue rose 11 percent to Rs 24,479 crore in the June quarter. IT services revenue was $2.61 billion, down 1.4 percent. The board declared an interim dividend of Rs 2 per share. CEO Srini Pallia maintained a muted outlook for the upcoming quarter.
Prism
What It Means For You
- Wipro shareholders receive Rs 2 interim dividend per share.
- Muted IT spending may affect hiring and project allocations.
- AI transformation deals are driving large contract bookings.
What's Happening
- Wipro reported Rs 3,352 crore net profit on July 16.
- Revenue rose 11 percent to Rs 24,479 crore in Q1.
- Q2 guidance signals flat to modest sequential growth.
Wipro Earnings Context
- Total Q1 deal bookings reached $3.4 billion.
- Headcount stood at 243,044 with no fresh fresher hiring.
- Operating cash flow was 98 percent of net income.
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