Wipro results: board to consider share buyback proposal around July

Wipro while reporting its fourth quarter results said its board will consider a share buyback proposal around July


Wipro says in Q1FY18, expect to have more than 50% of employees in US to be local. Photo: Mint
Wipro says in Q1FY18, expect to have more than 50% of employees in US to be local. Photo: Mint

New Delhi: Wipro Ltd on Tuesday said its expect revenues from IT services business to be in the range of $1,915 million to $1,955 million for the quarter ending June 30, 2017.

The company, which announced its quarterly results, said its board of directors will consider a proposal for buyback of equity shares of the company around July 2017.

Here are other highlights

■ Wipro says quarterly IT services margins was 18.3%

■ Wipro says total dividend for the year 2016-17 remains at Rs2 per equity share

■ Wipro says in Q1FY18, expect to have more than 50% of employees in US to be local

■ Wipro says sustained strong cash generation in FY17 even as currency environment remained highly volatile

■ Wipro confident that recovery in energy & utilities , demonstrated strength in digital will help improve growth trajectory during course of current FY

■ Wipro says net addition to employee count was 1,305 for quarter

■ Wipro says quarterly annualized attrition has reduced to 14.8% from 15.4% in Q3.

■ Wipro says gross utilization has increased 150 sequentially basis points to 73.1% in quarter

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