The share of India’s fourth largest software service company declined around 2.7 percent to Rs 417.50 a share after the company’s veteran CFO Jatin Dalal resigned.
At 10:40 a.m., On the National stock exchange, Wipro Ltd shares were trading at Rs 420.90 per share, down 1.83 percent from the previous close price. The company has a market capitalization of Rs 2,19,861 crore.
Wipro’s Board of Directors approved Mr. Jatin Pravinchandra Dalal’s resignation, which will take effect on November 30, 2023. Meanwhile, during the board’s meeting on September 21, 2023, the Board of Directors approved the appointment of Ms. Aparna Iyer as Chief Financial Officer of the Company, effective September 22, 2023.According to the company’s BSE filing.
The Company’s return on equity decreased from 18.69 percent in FY22 to 14.61 percent in FY23, while the return on capital employed declined from 20.43 percent to 17.46 percent during the same period.
Wipro’s sales grew by 6 percent year on year, rising from Rs 21,528 crore in Q1FY23 to Rs 22,831 crore in Q1FY24. Net profit climbed by 13 percent within the same period, from Rs 2,560 crore to Rs 2,885 crore.
The promoters own 72.91 percent of the company, domestic institutional investors own 9.83 percent, and foreign institutional investors own 6.32 percent, according to the latest shareholding pattern.
Wipro Ltd. is a global information technology, consulting, and business process services (BPS) company that offers a comprehensive portfolio of consulting, design, engineering, and operations skills.
Written by Omkar Chitnis
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