Wipro’s Q4FY24 Quarterly Results
Wipro’s revenue de-grew over 4% YoY
- 23 Apr 2024
Read Full Article >
- Wipro reported 0.3% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter ended March (Q4FY24). On a year-on-year (YoY) basis, it witnessed de-growth of 4.1%.
- Its expenses for the quarter were down by 1.4% QoQ and 4.2% YoY.
- The net profit grew 5.8% QoQ and de-grew 7.6% YoY.
- The earnings per share (EPS) of Wipro stood at 5.4 during Q4FY24.
Wipro’s Financial Statements for Q4FY24:
| (Rs crores) | Q4FY23 | Q3FY24 | Q4FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 23,836 | 22,803 | 22,861 | 0.3% | -4.1% |
Total expenses | 19,804 | 19,251 | 18,979 | -1.4% | -4.2% |
Profit before tax | 4,018 | 3,552 | 3,862 | 8.7% | -3.9% |
Tax | 925 | 852 | 1,004 | 17.9% | 8.6% |
Profit after tax | 3,094 | 2,701 | 2,858 | 5.8% | -7.6% |
Earnings per share | 5.6 | 5.2 | 5.4 |
Wipro Q4 Result Highlights:
- Profit: Net profit increased 5.8% QoQ to Rs 2,858 crore, but declined 7.6% YoY.
- Cash Flow: Generated highest operating cash flow in recent years at 183% of net income in Q4.
- Revenue Decline: Wipro's IT services revenue for Q4 declined both year-over-year and sequentially.
- Dividend: The Board of Directors confirmed an interim dividend of Rs 1.
- Record Order Book: While overall revenue dipped, Wipro did see a strong performance in large deal bookings. The total contract value (TCV) of large deals for Q4 was $1.2 billion, which is a 9.5% increase year-over-year. This suggests a healthy pipeline for future growth.
Management Commentary:
Srinivas Pallia, CEO:
- Acknowledged a challenging year for the industry and an uncertain macroeconomic environment.
- Expressed optimism about future opportunities driven by AI and technological advancements.
- Highlighted Wipro's focus on preparing for the technological shift.
- The company highlighted its focus on margin improvement and strong cash flow generation.
- Wipro secured a major deal with a multinational healthcare and insurance organization.
Data Source: BSE, Company announcements
The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Open Demat Account
