IT company Wipro has released the results of the first quarter of Q1FY24 i.e. Financial Year 2024 on Thursday (July 13). In the April-June quarter, the company's net profit increased by 11.95% to Rs 2870 crore as compared to the same quarter last year.
A year ago in Q1FY23, the company had a net profit of Rs 2563 crore. However, the company's net profit declined by 6.6% on a quarterly basis.
In Q1, the company's revenue increased by 6% year-on-year to Rs 22,831 crore. It was Rs 21,528 crore in the same period of the last financial year. At the same time, the company's revenue in the last quarter Q4FY23 is Rs 23,190 crore.
Wipro CEO and Managing Director Thierry Delaporte said, "The company's first quarter results came on a strong backbone of large deal bookings, strong customer growth and flexible margins. We maintained business momentum despite reduction in customer spends. We have earned the trust of our customers with strong delivery, innovation and extended service. This helps in strengthening our long term business.
