Wipro Q4 results 2018 Highlights: All you need to know about the performance
A Bloomberg poll of analysts predicted net income of Wipro to come in at Rs 2,127 crore in Q4FY18.
Wipro Q4 results 2018 Highlights: Azim Premji headed Wipro in it's Q4 ended March 2018 results posted an income of Rs 1,800.80 crore in Q4FY18 witnessing a decline of 20.56% compared to net income of Rs 2,267 crore in the corresponding period of the previous year. The current net income also plunged by 7% from Rs 1,930.1 crore of the preceding quarter. A Bloomberg poll of analysts predicted net income of Wipro to come in at Rs 2,127 crore in Q4FY18.
Wipro Q4 consolidated revenue came in at Rs 13,768.6 crore during the quarter which decreased by 1.56% compared to Rs 13,987.50 crore in Q4FY17 but gradually rose by 0.73% versus revenue of Rs 13,669 crore in Q3FY18. Abidali Z. Neemuchwala, CEO and Member of the Board said - “Our investments in Digital and our efforts in client mining are paying off well. Our strong order bookings in the last two quarters provide us the right foundation to grow as we progress through the year.”
Here all that you need to know about the Wipro Q4 result.
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Wipro Q4 results 2018 Highlights for the Year ended March 31, 2018:
- Gross Revenue was ₹544.9 billion ($8.4 billion1 ), a decline of 1.0% YoY.
- IT Services Segment Revenue was $8,060.2 million, an increase of 4.6% YoY.
- Non-GAAP constant currency IT Services Segment Revenue grew 2.9% YoY.
- IT Services Segment Revenue in Rupee terms remained flat at ₹528.4 billion ($8.1 billion1)
- IT Services Margin was 15.8%. Excluding the impact of insolvency of two customers and the impairment loss in one of our acquisitions, IT Services Margin for the year was 16.8%.
- Net Income3 was ₹80.1 billion ($1.2 billion1 ), a decrease of 5.7% YoY.
Results for the Quarter ended March 31, 2018:
- Gross Revenue was ₹137.7 billion ($2.1 billion1 ), an increase of 0.7% sequentially.
- IT Services Segment Revenue in dollar terms was $2,062.0 million, up 2.4% sequentially and 5.5% YoY.
- Non-GAAP constant currency IT Services Segment Revenue grew 1.1% sequentially and 2.5% YoY.
- IT Services Segment Revenue in Rupee terms at ₹134.1 billion ($2.1 billion1 ), an increase of 1.3% sequentially.
- IT Services Margin for the quarter was 14.4%.
- Excluding the impact of insolvency of a customer and the impairment loss in one of our acquisitions, IT Services Margin for the quarter was 16.0%*.
- Net Income3 for the quarter was ₹18.0 billion ($277 million1 ).
Jatin Dalal, Chief Financial Officer said - “We continue to make progress in our client mining, with number of clients contributing revenues over $75 million increasing from 17 to 20 during the quarter. Our investments in Wipro HOLMESTM and our automation suite are resulting in consistent productivity improvements. We generated robust Operating Cash Flows of ₹84 billion at 105% of our Net Income in FY18.”
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