Wipro Limited, a leading technology services and consulting company, announced its financial results for the fourth- quarter ended on March 31, 2023.
Thierry Delaporte, CEO and Managing Director, 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.”
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“Compared to just a few years ago, we are seeing a visible change in the structure of our deals and our market position. We are winning large transformation deals, benefitting from a consolidating market, and deepening relationships with existing clients”, Thierry Delaporte added.
Thierry Delaporte further said, “We have built a strong foundation to sustain through this period of increased uncertainty. We have the growth mindset, the right organizational structure, and the talent for long-term success.”
Jatin Dalal, Chief Financial Officer, said, “We continue to maintain our focus on operational improvements and productivity enhancements which led to our IT services margin exit at 16.3% in Q4 despite macro headwinds.”
“We generated strong operating cash flows at 121% of our net income for the Quarter”, Jatin Dalal added.
Wipro saw a reduction in employee count from January to March 2023. The firm’s total headcount at the end of the March quarter slipped to 256,921 from 258,744 in the last quarter. Wipro has reduced its headcount by 1,823.
The firm’s total headcount at the end of the December quarter slipped to 258,744 from 259,179 in the last quarter. As of September 30, 2022, Wipro added 605 new employees.
In its fourth quarter voluntary attrition rate decreased to 14.1 percent.
