Wipro's profit takes a hit after new labor rules, but business holds steady
Wipro's profit dropped 7% this quarter, landing at ₹3,119 crore—mainly because of a one-time cost tied to India's new labor codes.
If you leave out that charge, profits actually edged up to ₹3,360 crore.
So while the headline number looks rough, the company's core business is still holding on.
Revenue and deals: some ups and downs
Wipro pulled in ₹23,378 crore ($2.64 billion) in IT services revenue—up slightly from last quarter but down a bit compared to last year.
Their operating margin slipped to 15.3%.
On the bright side, they locked in $3.3 billion worth of deals this quarter (with big contracts making up $0.9 billion), showing clients are still interested.
What's next? Modest growth and a dividend
Looking ahead, Wipro expects IT Services revenue next quarter to grow by 0-2% in constant currency.
Plus, shareholders get an interim dividend of ₹6 per share—so there's something extra for those keeping an eye on their investments.