Wipro sells Chennai property to Casagrand for Rs 2.66 billion
Real Estate

Wipro sells Chennai property to Casagrand for Rs 2.66 billion

The IT services company Wipro announced the successful completion of the sale of a significant prime property located in Chennai, Tamil Nadu.

In the June 2023 quarter, Wipro reported a 12% increase in its consolidated net profit, which amounted to about Rs 28.7 billion. In the same period the previous year, the company had recorded a consolidated net profit of Rs 25.63 billion.

The firm disclosed that its operating income or earnings before interest and taxes (EBIT) had been registered at Rs 36.52 billion, which was 3% lower than in the fourth quarter of the 2022-23 fiscal year.

Furthermore, Wipro stated that its gross revenue had reached $ 2.8 billion, reflecting a 6% year-on-year increase. The revenue generated by its IT services segment rose to $ 2,778.5 million, representing a 0.8% year-on-year increase and a 6.1% year-on-year increase in rupee terms.

Wipro also reported that its total bookings for the quarter being reviewed amounted to $ 3.7 billion, with large deal bookings reaching $ 1.2 billion, marking a 9% year-on-year increase. This was the highest figure recorded in eight quarters, according to the company.

The IT services company Wipro announced the successful completion of the sale of a significant prime property located in Chennai, Tamil Nadu. In the June 2023 quarter, Wipro reported a 12% increase in its consolidated net profit, which amounted to about Rs 28.7 billion. In the same period the previous year, the company had recorded a consolidated net profit of Rs 25.63 billion. The firm disclosed that its operating income or earnings before interest and taxes (EBIT) had been registered at Rs 36.52 billion, which was 3% lower than in the fourth quarter of the 2022-23 fiscal year. Furthermore, Wipro stated that its gross revenue had reached $ 2.8 billion, reflecting a 6% year-on-year increase. The revenue generated by its IT services segment rose to $ 2,778.5 million, representing a 0.8% year-on-year increase and a 6.1% year-on-year increase in rupee terms. Wipro also reported that its total bookings for the quarter being reviewed amounted to $ 3.7 billion, with large deal bookings reaching $ 1.2 billion, marking a 9% year-on-year increase. This was the highest figure recorded in eight quarters, according to the company.

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