Wipro Q4 net at Rs 2,483.5 cr, announces buyback at Rs 325/share

Topics Wipro

Abidali Neemuchwala, CEO of Wipro. Photo: PTI
Wipro on Tuesday posted a 37.7 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 2,483.5 crore for January-March quarter of the financial year 2018-19 (FY19) against Rs 1,803 crore reported in the year-ago period. The numbers were mostly in line with analysts estimates. Total income of the company stood at Rs 15,915.3 crore, up 11 per cent YoY. 

ICICI Securities, for instance, had pegged Wipro's Q4 PAT at Rs 2,544.4 crore, translating into 1.4 per cent QoQ growth, while analysts at Nirmal Bang expected a 2 per cent QoQ growth in PAT at Rs 2,560 crore. Analysts at Edelweiss saw Q4 PAT at Rs 2,449.4 crore, a 2.4 per cent QoQ jump. READ MORE HERE

The company also announced share buyback of 3.23 crore shares at Rs 325 apiece, aggregating Rs 10,500 crore. Earnings per share (EPS) of the company stood at Rs 4.13 during the period under review. 

"The Board has not recommended any final dividend. The interim dividend of Rs 1 declared by the Board at its meeting held on January 18, 2019 shall be considered as the final dividend for the financial year 2018-19. Thus, the total dividend for the financial year 2018-19 remains Rs 1 per equity share," the result release said.

Abidali Z. Neemuchwala, CEO and Executive Director said, “Our teams have executed well on our strategy which has resulted in consistent improvement of YoY growth each quarter. We have built a strong foundation for growth on the back of healthy order book and continued investments in big bet areas of Digital, Cyber security, Engineering services and Cloud. Our customers find these investments relevant as part of their digital transformation and IT Operations landscape modernization, enabling us to win in the market”. 

IT Services Segment Revenue was $2,075.5 million, a growth of 1.4 per cent QoQ. IT Services Operating Margin for the quarter stood at 19 per cent, an increase of 4.4 per cent YoY. 

Below are some highlights of the quarter under review-
  • Added 3 accounts to $75+ revenue bucket
  • Localization in US now at 64.0%
  • Full Packaged Product (FPP) mix is at its highest at 60%
  • Offshore mix is at its highest at 48.5%
  • Operating Cash Flows at 134% of Net Income  

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