Wipro Q4 FY2023 net income remains flat at ₹30.9bn

Wipro Q4 FY2023 results : Indian IT company Wipro has reported a net income of INR 30.93 billion ($376 million) for the fourth quarter of the fiscal year 2023 (Q4 FY2023) that ended 31 December 2022, which is more or less the same compared to INR 30.92 billion reported in Q4 FY2022.

In the previous quarter, that is Q3 FY2023, Wipro had a net income of INR 30.5 billion.

The earnings per share (EPS) of Wipro for the quarter ended 31 March 2023 were INR 5.61, which is almost the same as the EPS of INR 5.63 in the same quarter of the previous fiscal year.

Wipro Q4 FY2023 gross revenue was INR 231.9 billion ($2.8 billion), which is a year-over-year (YoY) increase of 11.2%, compared to INR 208.6 billion in Q4 FY2022.

In Q3 FY2023, Wipro’s revenue was INR 232.3 billion.

Wipro Q4 FY2023 results. Photo courtesy of Rameshng/Wikimedia Commons.

For the fiscal year 2023 (FY2023), Wipro’s net income was INR 113.6 billion, compared to INR 122.3 billion in FY2022.

Revenues in FY2023 were INR 904.9 billion, an increase of 14.4% compared to INR 790.3 billion in FY2022.

Thierry Delaporte — Wipro CEO and Managing Director, commenting on Wipro Q4 FY2023 results, said: “We closed FY23 with the strongest-ever bookings recorded in a year. We delivered two consecutive quarters of total bookings of over $4.1 billion.

“Our large deal order booking grew by 155% year-over-year for the quarter. We are also pleased to announce our share buyback, which is part of our philosophy to deliver consistent returns to shareholders.

“Compared to just a few years ago, we are seeing a visible change in the structure of our deals and our market position. We are winning large transformation deals, benefitting from a consolidating market, and deepening relationships with existing clients.”