New Delhi: Technology services and consulting company Wipro Ltd. A reported a loss of third quarter of FY24 with a net profit of Rs 30.5 billion. The company’s board in its meeting on Friday declared an interim dividend of Re 1 per equity share. Wipro had posted a revenue of Rs 232.3 billion (Q3FY22 Rs 203 billion) and a net profit of Rs 30.5 billion (Rs 29.6 billion).
According to CEO and Managing Director Thierry Delaporte, margins improved by 120 basis points, and layoffs decreased for the fourth consecutive quarter. “We continue to gain market share as a result of deepening customer relationships and higher win rates,” Delaporte said. ,Also Read: Heavy discounts on iPhone 14 on Flipkart, Amazon and Imagine Store: Check out the price drop and big offers,
Chief financial officer Jatin Dalal said: “This expansion of margin was after absorbing the investments we’ve made in our people through pay increases, promotions and long-term incentives for our senior leadership.ALSO READ: Infosys reports Rs 6,586 crore net profit in Q3,
Margin growth was led by strong operational improvements and automation-based efficiencies. We generated strong operating cash flow at 143 percent of our net income for the quarter and our EPS grew 14.6 percent quarter-on-quarter.