Wipro Q3 net profit zooms 24.4% to ₹3,354 crore; firm tweaks capital allocation policy

Wipro reports 24.4% rise in net profit, revenue up 0.5%, announces revised capital allocation policy and interim dividend.

IT services company Wipro on Friday (January 17, 2025) reported a 24.4% year-on-year rise in its consolidated net profit for the just-ended December quarter at about ₹3,354 crore.

The Bengaluru-based tech major saw its revenue from operations inch up by 0.5% to about ₹22,319 crore.

For the coming March quarter, Wipro sees revenue from IT services business in the range of $2,602 million to 2,655 million, which translates into a sequential guidance of a decline of 1% to 1% growth, according to a regulatory filing.

It has declared an interim dividend of ₹6 per equity share/ADS. Wipro board has approved a revised capital allocation policy that increases the committed payout percentage to 70% or above in a block of three years.

The capital allocation policy has been revised to increase the payout percentage from 45-50% to 70% or above of the net income cumulatively on a block of three-year period, the company statement said.

Srini Pallia, CEO and Managing Director, said strong in quarter execution helped the company deliver above the top end of revenue guidance in a seasonally weak quarter.

“We also achieved our highest margins in the past three years while continuing to invest in our people,” Mr. Pallia said in the statement.