Wipro Q3 results 2024 | Net profit falls 12% to Rs 2,694 crore, revenue down 4%

Wipro's Q3 results reveal a 12% decline in net profit, amounting to Rs 2,694 crore, accompanied by a 4% dip in revenue. CEO Thierry Delaporte expressed optimism, citing robust deal booking momentum and a 20% year-to-date growth in large deals. He highlighted the return to growth in Consulting, evidenced by double-digit growth in order bookings for the Capco business. Emphasizing their ai360 strategy, Delaporte mentioned the integration of AI across solutions and internal operations, aiming for efficiency, productivity, and scale.

Aparna C. Iyer, the Chief Financial Officer, applauded the company's execution discipline across financial metrics. Despite revenue challenges and ongoing investments, Wipro maintained a 16% margin, showing a 63 basis point improvement on a year-to-date basis. Iyer stressed their commitment to building a more resilient, agile, and efficient organization to navigate market dynamics successfully.