Thu, 06 May 2021

Wipro Q4 profit jumps 28 pc to Rs 2,972 crore

15 Apr 2021, 21:37 GMT+10

Bengaluru (Karnataka) [India], April 15 (ANI): IT software major Wipro on Thursday reported 27.8 per cent year-on-year jump in its net profit at Rs 2,972 crore in the January to March quarter (Q4 FY21) as against Rs 2,326 crore in the same period last year.

On a quarter-on quarter, the profit increased marginally by 0.14 per cent as compared to Rs 2,968 crore in the October to December quarter of FY21.

Revenue from operations climbed by 3.4 per cent YoY to Rs 16,245 crore as against Rs 15,711 crore in Q4 FY20. Sequentially, the figure rose by 3.67 per cent from Rs 15,670 crore in the December quarter.

The IT services segment revenue was at 2.15 billion dollars, an increase of 3.9 per cent QoQ and 3.8 per cent YoY. Earnings per share for the quarter was at Rs 5.39, marking an increase of 31.8 per cent YoY.

"We delivered a third consistent quarter of strong revenue growth, deal wins and operating margins. We also announced our largest ever acquisition of Capco that will bolster our global financial services sector," said CEO and Managing Director Thierry Delaporte.

"We are excited with this wave of business momentum that we are witnessing. All key markets are now growing on YoY basis and this provides us a solid foundation to build on next year growth rates."Jatin Dalal, Chief Financial Officer said the company delivered a 340 bps expansion YoY in operating margins for the quarter after absorbing the impact of wage hike. On a full year basis, it increased margins by 220 bps with a consistent improvement in operating metrics.

"Led by disciplined execution, we generated strong operating cash flows at 136.7 per cent of our net income of our the full year. We successfully completed the share buyback programme returning 1.3 billion dollars to our shareholders," said Dalal.

Wipro said it expects revenue from IT services business to be in the range of 2,195 million to 2,238 million dollars in the quarter ending June 30. This translates to a sequential growth of 2 to 4 per cent.

This does not include revenue from recently-announced acquisitions of Capco and Ampion. (ANI)

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