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Business News/ Companies / Company Results/  Wipro Q4 Results Updates: IT major posts net profit at 2835 crore, revenue falls 4% YoY
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Wipro Q4 Results Updates: IT major posts net profit at ₹2835 crore, revenue falls 4% YoY

Wipro Q4 Results Updates: For the the quarter ending March 2024, IT major Wipro witnessed an 8% year-on-year decline in its consolidated net profit, amounting to 2,835 crore. This figure contrasts with the 3,074 crore recorded in the corresponding quarter of the previous year.

Wipro Q4 Results: IT major announced 8% year-on-year decline in its consolidated net profit, amounting to ₹2,835 crore for Q4 FY24. (REUTERS)Premium
Wipro Q4 Results: IT major announced 8% year-on-year decline in its consolidated net profit, amounting to 2,835 crore for Q4 FY24. (REUTERS)

Wipro Q4 Results Updates: Wipro recorded a consolidated net profit of 2,835 crore, marking an 8% decline compared to the same period last year when it stood at 3,074 crore for the quarter ended on March 31, 2024. Revenue from operations decreased by 4% year-on-year to 22,208 crore, down from 23,190 crore in the same period last year.

19 Apr 2024, 06:21:44 PM IST

Wipro Q4 Results Live: Wipro Q4 FY24 result vs street estimates

Wipro Q4 Results Live:  Wipro surpassed analyst expectations for both its bottom line, reporting 2,748 crore, and its topline, achieving 22,117 crore in revenue.

19 Apr 2024, 05:50:11 PM IST

Wipro Q4 Results Live: Key highlights of the results for the year ended March 31, 2024

Wipro Q4 Results Live:  Here are key highlights for the year ended on March 31, 2024 -

1. Gross revenue reached 897.6 billion ($10.8 billion ), a decrease of 0.8% YoY. 

2. IT services segment revenue was at $10,805.3 million, a decrease of 3.8% YoY. 

3. Non-GAAP2 constant currency IT Services segment revenue decreased 4.4% YoY. 4. Large deal bookings.

4. was at $4.6 billion, up by 17.4% YoY. Total bookings was at $14.9 billion decrease of 5.5% YoY. 

5. IT services operating margin5 for the year was at 16.1%, up by 50 bps YoY. 

6. Net income for the year was at 110.5 billion ($1,325.3 million ), a decrease of 2.7% YoY. 

7. Earnings per share for the year was at 20.89 ($0.251 ), an increase of 0.8% YoY. 

8. Operating cash flows of 176.2 billion ($2,114.0 million), an increase of 34.9% YoY and at 158.6% of Net Income for the year.

19 Apr 2024, 05:21:13 PM IST

Wipro Q4 Results Live: Segment-wise performance in Q4FY24

Wipro Q4 Results Live: In terms of segments, Wipro experienced significant declines in revenue across BFSI, manufacturing, and communications during the fourth quarter. Sequentially, BFSI witnessed an 8.9% decrease, communications plummeted by 20%, and manufacturing saw an 11.5% drop.

 The healthcare segment was the only vertical that displayed notable revenue growth, recording a 1.3% increase. During the fourth quarter, the company achieved an operating cash flow of 17,620 crore, marking a 35% year-on-year increase and reaching 158.6% of the net income for the year.

19 Apr 2024, 05:01:28 PM IST

Wipro Q4 Results Live: Operating cash flow rises 34.9% YoY

Wipro Q4 Results Live: Operating cash flows of 176.2 billion ($2,114.0 million), an increase of 34.9% YoY and at 158.6% of net income for the year.

19 Apr 2024, 04:57:01 PM IST

Wipro Q4 Results Live: Attrition rate remained flat in Q4

Wipro Q4 Results Live: The attrition rate of IT major remained flat at 14.2% on the last-twelve-month (LTM) basis.

19 Apr 2024, 04:46:36 PM IST

Wipro Q4 Results Live: Srini Pallia, CEO and Managing Director, said

Wipro Q4 Results Live: “We expanded our margins by 40 basis points during the quarter resulting in EPS growth of 5.2% QoQ in Q4. Despite a challenging macro-environment our IT services margin expanded by 50 basis points for the full year FY24. We generated highest operating cash flow in recent years which is at 183% of our net- income in Q4 and 159% on a full year basis."

19 Apr 2024, 04:42:35 PM IST

Wipro Q4 Results Live: Total booking declines by 14% yoy

Wipro Q4 Results Live: Total bookings was at $3.6 billion. Large deal bookings was at $1.2 billion, increase of 31.1% QoQ and 9.5% YoY

19 Apr 2024, 04:36:23 PM IST

Wipro Q4 Results Live: Headcount decline of 6,180 employees in Q4 FY24

Wipro Q4 Results Live: In the fourth quarter ending March 31, IT services giant Wipro saw a decrease of 6,180 employees. For the entire fiscal year FY24, Wipro experienced a reduction in headcount by 24,516, marking the second consecutive fiscal year with a decline in overall headcount. The total headcount for FY24 reached 234,054.

19 Apr 2024, 04:29:56 PM IST

Wipro Q4 Results Live: IT major announced interim dividend of ₹1

Wipro Q4 Results Live: The Board of Directors confirmed the interim dividend of 1 declared by the Board earlier at its meeting held on January 12th, 2024, shall be considered as the final dividend for the financial year 2023-24.

19 Apr 2024, 04:25:38 PM IST

Wipro Q4 Results Live: Key highlights of the result for the quarter ended March 31, 2024

Wipro Q4 Results Live: Here are the key highlights from Wipro's quarter ended results -

1. Gross revenue reached 222.1 billion ($2.7 billion1 ), flat QoQ. 

2. IT services segment revenue was at $2,657.4 million, an increase of 0.1% QoQ and decrease of 6.4% YoY. 

3. Non-GAAP2 constant currency IT Services segment revenue decreased 0.3% QoQ, and 6.6% YoY. 

4. Total bookings3 was at $3.6 billion. Large deal bookings4 was at $1.2 billion, increase of 31.1% QoQ and 9.5% YoY. 

5. IT services operating margin5 for the quarter was at 16.4%, up by 40 bps QoQ. 

6. Net income for the quarter was at 28.3 billion ($341.0 million ), an increase of 5.2% QoQ. 

7. Earnings per share for the quarter was at 5.43 ($0.07 1 ), an increase of 5.2% QoQ. 

8. Operating cash flows of 52.2 billion ($626.1 million1 ), an increase of 9.0% QoQ and at 182.6% of Net Income for the quarter. 

9. Voluntary attrition was at 14.2% on a trailing 12-month basis.

19 Apr 2024, 04:16:42 PM IST

Wipro Q4 Results Live: Srini Pallia, CEO and Managing Director, said

Wipro Q4 Results Live: “FY24 proved to be a challenging year for our industry, and the macroeconomic environment remains uncertain. However, I am optimistic about the opportunities that lie ahead. We are on the brink of a major technological shift. Artificial intelligence is transforming our clients’ needs as they seek to harness its power for competitive advantage and enhanced business value. At Wipro, we have been gearing up for this moment. We have the capabilities, leadership, and the strength of over 230,000 Wiproites around the world to help us realize our goals. Although there’s a considerable amount of work ahead of us, I am confident that together, with our collective effort, we can pave the way for the next chapter of growth."

19 Apr 2024, 04:13:52 PM IST

Wipro Q4 Results Live: IT services revenue pegged at -1.5% to 0.5%

Wipro Q4 Results Live: The company anticipates that revenue from its IT Services business segment will fall within the range of $2,617 million to $2,670 million. This corresponds to a sequential guidance of a decrease of 1.5% to an increase of 0.5% in constant currency terms.

19 Apr 2024, 04:10:00 PM IST

Wipro Q4 Results Live: Revenue for operations also declined by 4% YoY

Wipro Q4 Results Live: Revenue from operations experienced a 4% year-on-year decrease in Q4 FY24, amounting to 22,208 crore, as compared to 23,190 crore in the same period last year.

19 Apr 2024, 04:03:45 PM IST

Wipro Q4 Results Live:  IT major posts Net Profit at ₹2835 crore

Wipro Q4 Results Live: Wipro's fourth-quarter results revealed a net profit of 2835 crore, marking a 8% year-on-year decline.

19 Apr 2024, 03:45:20 PM IST

Wipro Q4 Results Live: Shares of IT major closed in green ahead of Q4 results

Wipro Q4 Results Live: Wipro share price closed 1.74 per cent higher at 452.10 on Friday's trading session ahead of the announcement of its quarterly results ending on March 31, 2024.

19 Apr 2024, 03:31:38 PM IST

Wipro Q4 Results Live:  JM Financial expects -0.2% cc revenue growth

Wipro Q4 Results Live: The brokerage firm JM Financial said in its report, “We expect -0.2% cc revenue growth with a 25bps cross currency tailwind, translating into flat QoQ USD revenue growth for IT Services, resulting in a flat reported USD revenue growth QoQ CC growth will likely be in the upper half of the guided band of -1.5% to 0.5%."

19 Apr 2024, 02:36:25 PM IST

Wipro Q4 Results Live: Nomura expects Wipro’s Q4 EBIT margins to expand 20 bps 

Wipro Q4 Results Live: Nomura expects Wipro’s Q4 revenue to decline 0.4% QoQ in constant currency (CC) terms. It expects EBIT margins to expand 20 bps led by continued cost control program. Key things to watch out for are commentary on consulting business and outlook on client CY24 budgets.

19 Apr 2024, 02:16:09 PM IST

Wipro Q4 Results Live: Wipro share price gives no return this year

Wipro Q4 Results Live: Wipro share price has failed to give any significant returns this year. Wipro share price has fallen over 8% in one month and nearly 4% year-to-date (YTD). However, Wipro shares have rallied over 25% in the past one year.

19 Apr 2024, 01:57:13 PM IST

Wipro Q4 Results Live: Expect IT services’ CC revenue to be flat QoQ: InCred Equities

Wipro Q4 Results Live: Expect Wipro IT services’ CC revenue to be flat QoQ versus -1.5% to 0.5% guided range. Headwinds from the two-month impact of wage hike could be offset by reduction in subcontractor expenses and operational efficiency. Key monitorables include Q1FY25 revenue growth guidance, large deal win trajectory and ramp up, said InCred Equities.

19 Apr 2024, 01:38:06 PM IST

Wipro Q4 Results Live: Wipro may guide for a 0-2% QoQ CC growth in Q1FY25: JM Financial

Wipro Q4 Results Live: JM Financial expects -0.2% cc revenue growth with a 25 bps cross currency tailwind translating into flat QoQ USD revenue growth for IT Services, resulting in a flat reported USD revenue growth QoQ. CC growth will likely be in the upper half of the guided band of - 1.5% to 0.5%. It expects Wipro Q4 EBIT margins to decline 15 bps to 15.9% due to two month incremental impact of wage hike, while cost efficiency program to largely offset wage hike impact. The brokerage firm expects Wipro to guide for a 0-2% QoQ cc growth in 1QFY25.

19 Apr 2024, 01:20:17 PM IST

Wipro Q4 Results Live: IT sector likely to report muted revenue growth with stable margins

Wipro Q4 Results Live:  The Indian IT services companies are likely to end the financial year 2023-2024 on a weak footing with the March quarter results estimated to show subdued growth amid unabated headwinds. The largecap IT services players are expected to report modest revenue growth in Q4FY24 as muted demand trends continue on account of weak discretionary spending and cautious behavior by clients, amid an uncertain global macroeconomic situation. Among verticals, BFSI, Communications, and Hi-Tech are expected to be among the laggards, with continued weakness in North America.

19 Apr 2024, 01:05:43 PM IST

Wipro Q4 Results Live: Wipro’s IT Service Margin should see improvement

Wipro Q4 Results Live: We expect Wipro to report flat revenue growth in 4Q, due to macro impact and continued softness in verticals. IT Service Margin should see improvement of 160 bps on account of cost efficiency measures. Consulting business continues to be weak, owing to cut down in discretionary spends and reprioritizing of projects. Commentary on revenue conversion, consulting, and deal pipeline will be the key monitorables, said Motilal Oswal.

19 Apr 2024, 12:50:04 PM IST

Wipro Q4 Results Live: Expect revenue to fall 0.5% QoQ in CC: Nuvama

Wipro Q4 Results Live: Nuvama Institutional Equities expects Wipro Q4 IT Services revenue to fall 0.5% QoQ in CC and 0.1% QoQ in USD. Margins are likely to be steady QoQ despite a two-month wage hike impact. We expect Wipro to give -1% to +1% CC QoQ revenue growth guidance for Q1FY25. Shall look for update on consultancy business and improvement in deal execution.

19 Apr 2024, 12:32:03 PM IST

Wipro Q4 Results Live: Key things to watch out for in Wipro Q4 Results

Wipro Q4 Results Live: Key things to look for in Wipro Q4 results include IT services USD sales growth and margin outlook especially for Q1FY25E and beyond and margin outlook for near term as well as medium to long term, analysts said. Moreover, any portfolio or client specific issues espcially resulting from ongoing geopolitical and macro concerns, update on deal pipeline, client decision making and order book for 4Q and beyond, further sizable M&A plans post big M&A of Capco & Rizing and plans to drive synergy benefits from Capco/Rizing and capital allocation plans will also be watched.

19 Apr 2024, 12:17:14 PM IST

Wipro Q4 Results Live: Wipro’s likely to guide for -0.2% CC growth

Wipro Q4 Results Live: Wipro is expected to project -0.2% constant currency (CC) revenue growth with a 25 bps cross currency tailwind translating into flat QoQ USD revenue growth for IT Services. CC growth will likely be in the upper half of the guided band of - 1.5% to 0.5%.

19 Apr 2024, 12:00:13 PM IST

Wipro Q4 Results Live: EBIT expected to fall 1.3%, margin to remain largely stable

Wipro Q4 Results Live: Operating performance of Wipro in Q4 is also expected to remain tepid as IT services earnings before interest and tax (EBIT) is estimated to fall 1.34% to 3,495 crore from 3,542.6 crore, QoQ, as per average estimates. EBIT margin may compress to 15.9% as against 16% in the December quarter due to two month incremental impact of wage hike, while cost efficiency program is expected to largely offset the wage hike impact.

19 Apr 2024, 11:45:37 AM IST

Wipro Q4 Results Live: Revenue likely to fall 0.28% QoQ to ₹22,141 crore

Wipro Q4 Results Live: Wipro’s IT services revenue is expected to see a sequential growth of 0.18% to $2,661 million from $2,656 million, while in rupee terms, the revenue may fall by 0.28% to 22,141 crore from 22,205.1 crore, quarter-on-quarter (QoQ), due to macro impact and continued softness in verticals, as per average estimates of five brokerages.

19 Apr 2024, 11:30:41 AM IST

Wipro Q4 Results Live: Net profit may rise 1.9% QoQ

Wipro Q4 Results Live: Wipro is estimated to report a consolidated net profit of 2,746 crore in the fourth quarter of FY24, registering a muted growth of 1.92% from 2,694.2 crore in Q3FY24, as per average estimates of five brokerages.

19 Apr 2024, 11:15:58 AM IST

Wipro Q4 Results Live: Wipro shares trade lower ahead of Q4 results

Wipro Q4 Results Live: Wipro share price traded lower ahead of the release of Q4 results later today. Wipro Q4 results will be announced after market hours. Wipro shares opened lower at 440.00 apiece on Friday as against its previous close of 444.30 apiece. On the BSE, Wipro share price intraday high of 445.10 and a low of 437.00 apiece.

19 Apr 2024, 11:01:06 AM IST

Wipro Q4 Results Live: Wipro, Jio Finance, HDFC AMC, Hindustan Zinc among 14 companies to post Q4 results today

Q4 Results Today: Wipro, Jio Financial Services, HDFC Asset Management Company, Hindustan Zinc, KP Green Engineering, Sejal Glass, Sybly Industries, Elecon Engineering, Rajnish Wellness, Roselabs Finance, Rajnish Retail, Amal, Benares Hotels, and VL E-Governance & IT Solutions will release their Q4 results today.

19 Apr 2024, 10:46:32 AM IST

Wipro Q4 Results Live: Wipro likely to post muted earnings

Wipro Q4 Results Live: IT major Wipro is estimated to report muted earnings for the January-March 2024 quarter on account of macro impact and continued softness in verticals. While Wipro Q4 net profit is expected to rise modestly, IT services revenue may fall during the quarter.

19 Apr 2024, 10:33:42 AM IST

Wipro Q4 Results Live: Wipro to announce its Q4 results today

Wipro Q4 Results Live: IT services major Wipro will declare its Q4 results today. The company’s board of directors meets today to approve financial results for the fourth quarter of FY24.

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