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.