Active Stocks
Sat Mar 02 2024 12:49:58
  1. Tata Steel share price
  2. 155.15 3.43%
  1. HDFC Bank share price
  2. 1,430.35 -0.06%
  1. State Bank Of India share price
  2. 773.05 0.49%
  1. Tata Motors share price
  2. 988.40 1.15%
  1. Wipro share price
  2. 522.65 0.67%
Business News/ Companies / Company Results/  Wipro Q4 profit rises 4% to 3,087 crore; revenue up 28%

Wipro Q4 profit rises 4% to ₹3,087 crore; revenue up 28%

Revenue from operations rose 28% to ₹20,860 crore for the quarter under review

On Friday, Wipro scrip was down nearly 3% to settle at ₹508 on NSE. (Bloomberg)Premium
On Friday, Wipro scrip was down nearly 3% to settle at 508 on NSE. (Bloomberg)

Wipro Ltd Friday reported consolidated net profit of 3,087 crore for the quarter ended 31 March, 2022, up 4% from 2,972 crore a year ago.

Revenue from operations, meanwhile, rose 28% to 20,860 crore for the quarter under review. In dollar terms, the IT major's revenue stood at $2.72 billion

On Friday, Wipro scrip was down nearly 3% to settle at 508 on NSE.

“We have had an outstanding year, finishing with $10.4 billion in revenues, and an industry-leading growth of 27% year on year. This is our sixth straight quarter of strong revenue growth at or over 3%," said Wipro CEO Thierry Delaporte.

Wipro said it expects revenue from our IT services business to be in the range of $2,748 million to $2,803 million. This translates to a sequential growth of 1% to 3%.

"We are excited with the addition of Rizing and the CAS Group to Wipro’s service offerings. With all markets, sectors and Global Business Lines now growing in double-digits year on year, we have a strong foundation for next year’s growth," Delaporte said.

Operating margin of the company during the quarter stood at 17%, down 60 basis points on a sequential basis.

IT services revenue during the March quarter stood at $2,722 million, an increase of 26% year-on-year.

The attrition rose to 23.8% in fourth quarter (voluntary TTM) on a trailing 12 month basis from 22.7% in the third quarter (QoQ), which is among the highest in the industry.

“Our efforts on client mining have resulted in an addition of eight customers in more than $100 million bucket on year-on-year basis. We delivered operating margins of 17.7% for the year, after significant investments on solutions, capabilities and talent. Net Income for the year was highest ever at $1.6 billion and delivered robust growth in EPS of 17% year-on-year," Wipro CFO Jatin Dalal said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 29 Apr 2022, 03:53 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie