Wipro dividend: IT major announces interim dividend, know details

Wipro dividend announcement: The interim dividend of ₹1 declared by the Wipro board on 12 January, 2024 has shall be considered as the final dividend for FY24, said the IT major while announcing its FY24 results on Friday.  

“The Board of Directors confirmed the interim dividend of ₹1 declared by the Board earlier at its meeting held on January 12th, 2024, shall be considered as the final dividend for the financial year 2023-24,” said the company in its BSE filing.

Wipro Q4 FY24 result

The IT major reported an 8% YoY decline in its net consolidated profit to ₹2,835 crore during the quarter under review. The company had reported a consolidated net profit of ₹3,074 crore during Q4 FY24. Wipro's revenue from operations declined by 4% year-on-year to ₹22,208 crore, down from ₹23,190 crore in the same period last year.

“We expanded our margins by 40 basis points during the quarter resulting in EPS growth of 5.2% QoQ in Q4. Despite a challenging macro-environment our IT services margin expanded by 50 basis points for the full year FY24. We generated highest operating cash flow in recent years which is at 183% of our net- income in Q4 and 159% on a full year basis," said Srini Pallia, CEO and Managing Director.

Wipro Q4 FY24 result highlights

The gross revenue of the firm came in at ₹222.1 billion ($2.7 billion1 ), flat QoQ. The company witnessed a nominal 0..1% QoQ increase in its IT services segment revenue to $2,657.4 million. Non-GAAP2 constant currency IT Services segment revenue decreased 0.3% QoQ, and 6.6% YoY. Total bookings3 was at $3.6 billion. Large deal bookings4 was at $1.2 billion, increase of 31.1% QoQ and 9.5% YoY. IT services operating margin for the quarter was at 16.4%, up by 40 bps QoQ. Net income for the quarter was at ₹28.3 billion ($341.0 million ), an increase of 5.2% QoQ.