Wipro Enterprises' revenue rises 10% to Rs 16,902 cr in FY24; profit up 35%

Azim Hasham Premji-led Wipro Enterprises has said its consolidated revenue from operations increased 9.8 per cent to Rs 16,902 crore in the financial year ended March 2024 while its profit jumped 35 per cent to Rs 1,903.1 crore  According to an RoC (Registrar of Companies) filing, its total income, including other income, stood at Rs 17,761.3 crore in FY24, up 11.2 per cent from FY23 figure.

Wipro Enterprises Pvt Ltd had reported a revenue from operations of Rs 15,387.8 crore and a profit of Rs 1,410.1 crore a year before in FY23, according to financial data accessed through business intelligence platform Tofler.

As of March 31, 2024, Azim H Premji held 77.65 per cent stake in the company and the rest 21.84 per cent was owned by the Azim Premji Trust.

Wipro Enterprises is primarily engaged in the business of consumer care and home care products, food business, hydraulics, aerospace components, domestic and institutional lighting, commercial solutions, additive manufacturing, and industrial automation.

Its flagship firm Wipro Consumer Care and Lighting reported a net revenue of Rs 10,269.5 crore, up 3.13 per cent compared to Rs 9,956.9 crore recorded in FY23.

Wipro Consumer Care and Lighting owns household brands such as Santoor, Yardley, Enchanteur, Chandrika, Softouch, Giffy, Maxkleen, and Wipro Garnet.

It also operates in personal care, baby care, domestic lighting, and commercial solutions -- furniture and lighting -- primarily in the Indian and other Asian as well as African markets.

Meanwhile, the net revenue of Wipro Infrastructure Engineering was at Rs 6,632.5 crore, up 22.1 per cent in FY24. This was at Rs 5,430.9 crore in the year ended March 2023.

Wipro Infrastructure Engineering manufactures products such as hydraulic cylinders, hydraulic and pneumatic components, tipper parts, aerospace actuators & structural components, metal additive manufacturing solutions, end-to-end industrial automation solutions and water treatment solutions primarily in Indian, European and US markets.

In FY24 Wipro Enterprises' revenue from the domestic market was up 8.67 per cent to Rs 8,042.2 crore, contributing nearly half of the sales.

The South East Asia and China markets contributed Rs 3,535.6 crore, followed by Rs 1,521.1 crore contribution 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.