Azim Premji's
Wipro registered a whopping 27.78% rise in net profit to Rs2,972.3cr for the quarter ending March 2021 (Q4FY21), compared to a profit of Rs2,326.1cr a year ago same period. The latest Q4 PAT is marginally up by 0.14% against Rs2,968 cr of profit posted in the preceding quarter.
The tech giant's revenue from operations was at Rs16,245.4cr in the quarter under review, increasing by 3.4% from Rs15,711cr in the corresponding period of the previous year.
Thierry Delaporte, CEO and Managing Director said, “I am delighted with the way we have finished the financial year. 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. We are excited about 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.”
Other Key highlights of Q4FY21 are:
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IT Services Segment Revenue was at $2,152.4 million, an increase of 3.9% QoQ and 3.8% YoY.
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Non-GAAP constant currency IT Services Segment Revenue increased by 3.0% QoQ and 0.5% YoY.
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IT Services Operating Margin3 for the quarter was at 21.0%, an expansion of 344 bps YoY.
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Earnings Per Share for the quarter was at Rs5.39 ($0.071 ), an increase of 31.8% YoY
Jatin Dalal, Chief Financial Officer said, “We delivered a 340 bps expansion YoY in operating margins for the quarter after absorbing the impact of the wage hike. On a full-year basis, we 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% of our net income for the full year. We successfully completed the share buyback program returning $1.3Bn to our shareholders."
For the financial year FY21, key highlights were:
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Gross Revenue was Rs619.4 billion ($8.5 billion), an increase of 1.5% YoY
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IT Services Segment Revenue was at $8,136.5 million, a decrease of 1.4% YoY
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Non-GAAP2 constant currency IT Services Segment Revenue decreased by 2.3% YoY
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IT Services Operating Margin3 for the year was at 20.3%, an expansion of 218 bps YoY
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Net Income for the year was Rs107.9 billion ($1,475.9 million), an increase of 11.0% YoY
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Earnings Per Share for the year was at Rs19.11 ($0.261), an increase of 14.6% YoY
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Operating Cash Flow was at Rs147.6 billion ($2,017.4 million), an increase of 46.6% YoY, which is 136.7% of Net Income
For FY22, Wipro said, "We expect Revenue from our IT Services business to be in the range of $2,195 million to $2,238 million*. This translates to a sequential growth of 2.0% to 4.0%. This does not include revenue from our recently announced
acquisitions of Capco and Ampion"
On Sensex, Wipro closed at Rs431 per piece up by 2.95%.
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