Wipro Enterprises' Revenue Rises 10% To Rs 16,902 Crore In FY24, Profit Jumps 35%
Bengaluru, India - December 01, 2024, 14:47 IST
Wipro Enterprises has reported a significant increase in its revenue and profit for the financial year ended March 2024. The company's consolidated revenue from operations jumped 10% to Rs 16,902 crore, while its profit surged 35% to Rs 1,903.1 crore.
The domestic market contributed nearly half of the sales with a revenue growth of 8.67%, translating to Rs 8,042.2 crore. Wipro Enterprises' flagship firm, Wipro Consumer Care and Lighting, reported a net revenue of Rs 10,269.5 crore, up 3.13% compared to FY23.
The company's infrastructure engineering segment also saw a significant jump in revenue, with a growth of 22.1% year-over-year, reaching Rs 6,632.5 crore. Wipro Infrastructure Engineering manufactures products such as hydraulic cylinders and industrial automation solutions for Indian, European, and US markets.
Meanwhile, the South East Asia and China markets contributed Rs 3,535.6 crore, followed by Rs 1,521.1 crore from the Malaysia market. Europe's contribution was Rs 1,766.6 crore, while Rs 1,432.5 crore revenue came from the US market.
Amar Premji-led Wipro Enterprises sees a 9.8% increase in total income to Rs 17,761.3 crore from FY23. Azim Hasham Premji holds 77.65% stake in the company, while the rest is owned by the Azim Premji Trust.
With this significant growth, Wipro Enterprises reinforces its position as a leading player in the consumer care and industrial automation sectors. The company's commitment to innovation and expansion plans will be closely watched in the coming years.
As of FY24, the key highlights include:
- Total revenue from operations: Rs 16,902 crore (up 10% from FY23)
- Profit: Rs 1,903.1 crore (up 35% from FY23)
- Revenue from the domestic market: Rs 8,042.2 crore (up 8.67%)
- Revenue growth for Wipro Consumer Care and Lighting: 3.13%
- Revenue from Wipro Infrastructure Engineering: Rs 6,632.5 crore (up 22.1%)
First-published news on Alarian.com.