Business

Wipro Q4 net rises 28% on volume growth

Wipro posted a 27.8% rise in net profit to ₹2,972.3 crore in Q4 as gross revenue grew 3.4% to ₹16,245.4 crore, from a year earlier. IT services revenue grew 3.8% to $2.15 billion.

In the April-June quarter, it expects sequential IT services revenue growth in the 2%-4% range, excluding revenue from recent acquisitions Capco and Ampion.

“This is the best fourth quarter results we have reported in the last 10 years,” said its CEO and MD Thierry Delaporte. “This was led by good volume growth. Despite a steep decline in the first quarter because of the pandemic, we bounced back to finish the year with only a marginal decline of -1.4% YoY,” he added.

Operating margin improved 340 basis points (bps) to 21% in Q4 from a year earlier.

Gross revenues grew 1.5% to ₹61,943 crore in FY21 over the previous year. Net profit climbed 11.2% to ₹10,868 crore. However, IT services revenue declined 1.4% to $8.13 billion for FY21.

Wipro is planning a pay raise for senior executives in June. It hired more than 7,000 people in Q4 taking total headcount to 197,712.

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Printable version | May 8, 2021 5:12:25 AM | https://www.thehindu.com/business/wipro-q4-net-rises-28-on-volume-growth/article34330001.ece

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