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Wipro posts 6.3% YoY fall in its Q4 net profit; misses Street estimates

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April 15, 2020

Wipro on Wednesday posted a 6.3 per cent year-on-year (YoY) decline in its net profit at Rs 2,326.1 crore for the quarter ended March 31, 2020. On a sequential basis, the numbers slipped 5.28 per cent.

Revenue from operations stood at Rs 15,711 crore, up 4.48 per cent against Rs 15,006.3 in the corresponding quarter of the previous fiscal. IT Services Segment Revenue was at $2,073.7 million, a decrease of 1 per cent QoQ while IT Services Operating Margin for the quarter was at 17.6 per cent, a decrease of 0.8 per cent QoQ.

Earnings per share (EPS) for the quarter was Rs 4.09 per share, a decrease of 1.1 per cent YoY. The Board has not recommended any final dividend. The interim dividend of Re 1 declared by the Board at its meeting held on January 14, 2020 shall be considered as the final dividend for the financial year 2019-20. Thus, the total dividend for the financial year 2019-20 remains Re 1 per equity share.

Wipro Q4 result

Wipro Q4 result

The company ahs not given any forward-looking guidance due to uncertainty related to the (Covid-19) pandemic.

“Due to the uncertainty around the course of the COVID-19 pandemic, we do not have visibility into the extent to which it will disrupt our operations, and we have decided to not provide revenue guidance for the quarter ending June 30, 2020. We anticipate that we will resume providing revenue guidance when we have increased certainty of both demand and supply side factors,” Wipro said in a results release.

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