Wipro logs 3.8% rise in Q4 profit; pegs FY23 revenue growth at 16-18%

The company said it saw a drop of 500 bps in attrition on a quarterly basis

Wipro’s reported net profit rose 3.85 per cent year-on-year (YoY) to Rs 3,087 crore in the fourth quarter ended March (Q4). The net profit was up 4 per cent sequentially.

Revenue for the quarter was up 28 per cent at Rs 20,860 crore YoY from the previous year of Rs 16,245 crore. In dollar terms, the company reported IT services revenue at $2.72 billion, up 3 per cent sequentially.  

Wipro met Bloomberg estimates on revenue and profit. According to Bloomberg poll, analysts had pegged the company’s revenue at Rs 20,819 crore and profit at Rs 3,010.9 crore. However, it missed the estimates