Wipro Q4 Results 2022
Wipro, one of the top tech giants in India, announced its Q4 result post-market hours, on April 29, 2022.
The company’s reported a consolidated net profit of Rs 3,087 crore for the March quarter of FY22, up 4% from Rs 2,972 crores when compared to last year’s same period. Revenue from operations jumped 28% y-o-y to Rs 20,860 crore during the same period.
Wipro delivered an operating margin of 17.7% for the year, after significant investments on solutions, capabilities, and talent.
Net Income for the year stood at $1.6 Bn and delivered robust growth in EPS of 17.0% YoY, as per the company statement.
The company’s CEO Thierry Delaporte said, “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%.”
IT services revenue during the March quarter stood at $2,721.7 million – an increase of 26% year-on-year.
Wipro’s attrition rate was around 23.8%.
Highlights
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- Gross revenue increased 28.4% y-o-y to Rs 208.6 billion
- IT Services Segment Revenue saw an increase of 3.1% QoQ and 26.4% y-o-y
- Net Income for the quarter was Rs 30.9 billion ($406.9 million), an increase of 4.0% QoQ and 3.9% y-o-y
- Earnings Per Share for the quarter was at Rs 5.64 ($0.071), an increase of 4.6% y-o-y
Segment-wise performance
IT Service revenue for the March quarter for different business units of the company:
- Americas 1: Rs 5834.2 crore
- Americas 2: Rs 6396.3 crores
- Europe: Rs 6074.3 crore
- APMEA: Rs 2356 crore
Americas 1 includes certain business segment in the United States of America and entire business of Latin America. Americas 2 includes certain other businesses located in the United States of America and the entire business of Canada. APMEA consists of Australia and New Zealand, India, Middle East, South East Asia, Japan and Africa.
Management outlook for next quarter:
Wipro expects revenue from its IT services business to be between $2,748 million and $2,803 million, from April to June, which is a 1-3% growth from the January to March quarter.
What the management said
The January to March period was Wipro’s sixth straight quarter where the company recorded revenue growth of more than 3%. “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,” said Thierry Delaporte, CEO and Managing Director, Wipro.
Wipro’s initiatives in client mining has helped the company add eight more customers resulting in an additional business worth $100 million on a yearly basis, said Dalal.