Wipro Q4 revenue rises 11% YoY to Rs 23,190 crore, announces share buyback of Rs 12,000 crore

Wipro announced a share buyback proposal of 26,96,62,921 equity shares for an aggregate amount of Rs 12,000 crore at a price of Rs 445 per share.

By: Express Web Desk

New Delhi | Updated: April 27, 2023 05:01 PM IST

2 min read

Wipro's consolidated revenue from operations climbed 11 per cent YoY to Rs 23,190 crore. (File image)

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IT major Wipro’s Q4 net profit fell 0.4 per cent year-on-year (YoY), but increased 0.6 per cent quarter-on-quarter (QoQ) to Rs 3,074 crore, the company announced on Thursday. In the last quarter, the company’s profit stood at Rs 3,053 crore.

Wipro’s consolidated revenue from operations climbed 11 per cent YoY to Rs 23,190 crore. The IT firm’s revenue from IT services in the March quarter jumped 4 per cent YoY to $2,823 million.

The company announced that the board has approved a share buyback proposal of 26,96,62,921 equity shares for an aggregate amount of Rs 12,000 crore at a price of Rs 445 per share.

Wipro’s CEO and MD Thierry Delaporte 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.”

For the current quarter, Wipro said it expects revenue from the IT services business including India State Run Enterprise (ISRE) segment to be in the range of $2,753 million to $2,811 million, translating to sequential guidance of -3.0 per cent to -1.0 per cent in constant currency terms.

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