Wipro on Thursday reported a consolidated net profit of Rs 2,972.3 crore for March quarter of financial year 2020-21 (Q4FY21), up 27.78 per cent year-on-year (YoY), as against Rs 2,326.1 crore posted in the same period last year. The company announced Q4FY21 numbers post market hours.
On a quarter-on quarter (QoQ) basis, the profit increased marginally by 0.14 per cent, compared to Rs 2,968 crore reported in the December quarter of FY21.
Its consolidated revenue from operations, meanwhile, climbed 3.4 per cent YoY to Rs 16,245.4 crore in the recently concluded quarter. This stood at Rs 15,711 crore in the previous corresponding period. Sequentially, the figure rose 3.67 per cent - from Rs 15,670 crore in the December quarter.
Wipro's March quarter results largely met analysts' estimates on both profit and revenue front. Brokerage Phillip Capital had forecasted net profit to rise by 24.9 per cent YoY to Rs 2,904.5 crore but fall 2.1 per cent QoQ. Meanwhile, those at Axis Securities projected a 30.1 per cent YoY and 3.3 per cent QoQ rise in net profit to Rs 3,065 crore, one of the most bullish predictions among brokerages. READ MORE
Segment-wise revenue
The company's revenue from IT services stood at Rs 16,334 crore as against Rs 15,810.3 crore posted in the March quarter last year and Rs 15,726.6 crore in the preceding quarter of FY21.
Ahead of the results, the shares of the firm ended 2.95 per cent higher at Rs 431 on the BSE.
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