India's third largest IT company, Wipro Ltd, on Thursday (July 6) said the company will announce its first quarter (April-June) results for FY2024 on July 13, 2023. The company will hold a meeting of its board of directors on July 12-13 to consider audited standalone and consolidated financial results for the quarter ended June 30, 2023, Wipro said in a filing to the BSE on Wednesday, July 5.

Share Market Live

NSE

"The financial results will be approved by the Board of Directors on the evening of July 13, 2023," Wipro said.

The company reported a marginal year-on-year decline of 0.4 percent in net profit to Rs 3,074.5 crore for the fourth quarter ended March 2023. The revenue for the March 2023 quarter stood at Rs 23,190.3 crore, 11.17 percent higher year-on-year.

For the full FY23, the net profit of Rs 11,350 crore was 7.1 percent lower than the preceding fiscal, while revenue of Rs 90,487.6 crore was 14.4 percent higher.

Wipro's Rs 12,000-crore share buyback programme recorded an acceptance ratio of 77.40 percent among retail participants. This means that for every 500 stocks surrendered by a retail investor, 387 were accepted for a buyback, reported Moneycontrol.com.

The investors will receive a payout for the buyback on July 5 along with the shares that were not accepted. The record date for the buyback was on June 16 and the programme concluded on June 30.

The company's board had approved a proposal to buy back up to 26,96,62,921 equity shares, which is 4.91 percent of the total paid-up equity shares, for an aggregate amount not exceeding Rs 12,000 crore at a price of Rs 445 per equity share.

(Edited by : Shoma Bhattacharjee)

First Published:Jul 6, 2023 6:47 PM IST