Wipro Enterprises revenue up 10% to Rs 16,902 crore in FY24; profit jumps by 35%
Azim Hasham Premji-led Wipro Enterprises said its consolidated income from operations rose 9.8 percent to Rs 16,902 crore in the fiscal year ended March 2024 while its profit jumped 35 percent to Rs 1,903.1 crore, according to RoC (Registraling of Companies) , total income, including other income, stands at Rs 17,761.3 crore in FY24, up 11.2 percent from the FY23 figure.
Wipro Enterprises Pvt Ltd reported profit from operations of Rs 15,387.8 crore and profit of Rs 1,410.1 crore in the year-ago FY23, according to financial data accessed through business intelligence platform Tofler.
As of March 31, 2024, Azim H Premji held 77.65 percent of the company and the remaining 21.84 percent was held by the Azim Premji Trust.
Wipro Enterprises specializes in the business of consumer care and home care products, food business, hydraulics, aerospace components, home and institutional lighting, trade solutions, additive manufacturing, and industrial automation.
Its flagship Wipro Consumer Care and Lighting reported a net profit of Rs 10,269.5 crore, up 3.13 percent compared to Rs 9,956.9 crore recorded in FY23.
Wipro Consumer Care and Lighting has in house brands like Santoor, Yardley, Enchanteur, Chandrika, Softouch, Giffy, Maxkleen, and Wipro Garnet. It also operates in personal care, baby care, home lighting, and commercial solutions — furniture and lighting — mainly in the Indian and other Asian and African markets.
Meanwhile, Wipro Infrastructure Engineering’s net income was Rs 6,632.5 crore, up 22.1 percent over FY24. This was Rs 5,430.9 crore for the year ended March 2023.
Wipro Infrastructure Engineering manufactures products such as hydraulic cylinders, hydraulic and pneumatic components, tipper components, aerospace actuators and structural components, metal additive manufacturing solutions, end-to-end industrial automation solutions and water treatment solutions mainly for the Indian, European markets. and in the US.
In FY24 Wipro Enterprises revenue from the domestic market rose 8.67 percent to Rs 8,042.2 crore, which accounted for almost half of sales.
The markets of Southeast Asia and China contributed Rs 3,535.6 crore, followed by the contribution of Rs 1,521.1 crore from the Malaysian market. The contribution from Europe was Rs 1,766.6 crore, while the revenue of Rs 1,432.5 crore came from the US market.
