The IT business Wipro announced its Q4FY24 results today, Friday, April 19, which corresponds to the fourth quarter of the 2024 fiscal year. Wipro's net profit for the January–March quarter decreased 8% year over year to ₹2,835 crore.
The company's net profit for the same quarter (Q4 FY23) the previous year was ₹3,074 crore. In contrast, Wipro's net profit for the third quarter of FY24 was ₹ 2,700 crore. This indicates that, in comparison to the third quarter, the company's net profit climbed by 5% in the fourth quarter.
Wipro's earnings decreased to ₹ 22,208 crore as well.
In the fourth quarter of this year, Wipro's income from operations was ₹ 22,208 crore, down 4.2% from ₹ 23,190 crore in the same period the previous year. In contrast, Wipro brought in ₹ 22,205 crore during the third quarter. In comparison to the third quarter, revenue grew by 1.3% in the fourth quarter.
Re-appointed as a full-time director is Rishad A. Premji
In an exchange filing, Wipro announced that Rishad A. Premji, who was previously named executive chairman, has been reappointed as a whole-time director.
Wipro's stock increased to Rs 452 by 1.74%.
Prior to today's results announcement, Wipro's stock closed at Rs 452.10, up 1.74%. As a result, Wipro's market value increased to Rs 2.36 lakh crore.
Wipro employs more than 2.45 lakh people and is present in 65 nations.
One of the top providers of technology services and consulting is Wipro Limited. It operates in 65 countries and employs over 2.45 lakh people. At the age of 21, Azim Premji took over as the head of Wipro from his father in 1966.
Under his direction, Wipro expanded its offerings beyond the production of vegetable oils to include software, IT, and consulting services.
Wipro's net profit for the fourth quarter drops by 8% to ₹2,835 crore: Revenue for the company in Q4 FY24 was ₹22,208 crore, with shares up 1.74%.
