Wipro's net income rises 4% to Rs 30.9 bn in Q4

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Bengaluru, April 29 (IANS) IT major Wipro announced its financial results for the fourth quarter of FY22 ended March 31 on Saturday.

According to an official statement issued by the company, its gross revenue stood at Rs 208.6 billion ($2.7 billion1), an increase of 28.4 per cent YoY. Its services segment revenue stood at $2,721.7 million, an increase of 3.1 per cent QoQ and 26.4 per cent YoY.

Wipro’s net income stood at Rs 30.9 billion ($406.9 million), an increase of 4 percent QoQ and 3.9 percent YoY. Earnings per share for the quarter under review was Rs 5.64, an increase of 4.6 percent YoY.

Its operating cash flow stood at Rs 23.3 billion ($307.3 million1), which was 75.5 percent of its net profit for the year ended March 31. In the corresponding quarter last year, the company had posted a net income of Rs 2,972.3 crore.

“As outlook for the quarter ending June 30, we expect 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 percent to 3 percent,” the official statement said.

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

“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.”

Jatin Dalal, Chief Financial Officer, Wipro, said, “Our efforts on client mining have resulted in an addition of eight customers in the more than $100 million bucket on a YoY basis. We delivered operating margins of 17.7 percent for the year, after significant investments on solutions, capabilities and talent. Net income for the year was the highest ever at $1.6 billion, delivering robust growth in EPS of 17 percent YoY.”