Wipro Ltd Q4FY22 and Year Ended result : IT revenue up 3.1% QOQ and 26% YoY, Profit jumps 3.86% YoY

IT Services Segment Revenue was at $2,721.7 million, an increase of 3.1% QoQ and 26.4% YoY

Wipro ltd
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Wipro Ltd is India’s one of the leading tech-companiesproviding IT Services including Business Process Outsourcing (BPO) services globally. The company provides comprehensive IT Solutions and Services including Systems Integration Information Systems Outsourcing IT Enabled Services Package Implementation Software Application development and maintenance and Research and Development Services to corporations globally.

It is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. In the Indian market they are a leader in providing IT Solutions and Services for the corporate segment in India offering System Integration Network Integration Software Solutions and IT Services. Now the company has posted its Q4FY22 and year ended financial results today, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹21,362.8 crore in the quarter ended on March 31, 2022 as against ₹16,778.7 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 27.3%.

The company has posted a consolidated Net Profit of ₹3,087.3 crore in the quarter ended on March 31, 2022 as against ₹2,972.3 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges up by 3.86%.

The status of the EPS of the company stood at ₹5.63 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹5.38, up by 4.64%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4)
Total Income21,362.820,791.516,778.7
Total Expenses17628.817020.513029.2
PBT /(Loss)3732.43778.63749.9
Total Tax /(credit)639.9806.3775.6
PAT /(Loss) [to the owners]3,087.32969.02,972.3
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹81,373.2 crore in the financial year ended on March 31, 2022 as against ₹64,325.6 crore for the financial year ended on Mar 31, 2021, increased by 26.5%.

The company has posted a consolidated Net Profit of ₹12,243.4 crore in the financial year ended on March 31, 2022 as against ₹10,868.0 crore for the financial year ended on March 31, 2021. The PAT surges up by 12.65%.

The status of the EPS of the company stood at ₹22.31 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹19.07, up by 16.99%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income81,373.264,325.6
Total Expenses66238.150435.7
PBT /(Loss)15140.813902.9
Total Tax /(credit)2897.430364.9
PAT /(Loss)12,243.410,868.0
*figures are in Crores
Market Times

(III) Key Highlights about the Performance :

Results for the Quarter ended March 31, 2022:

  • Gross Revenue was ₹208.6 billion ($2.7 billion1), an increase of 28.4% YoY
  • IT Services Segment Revenue was at $2,721.7 million, an increase of 3.1% QoQ and 26.4% YoY
  • Non-GAAP constant currency IT Services segment revenue increased by 3.1% QoQ and 28.5% YoY
  • IT Services Operating Margin for the quarter was at 17.0%, a decrease of 60 bps QoQ
  • Net Income for the quarter was ₹30.9 billion ($406.9 million1), an increase of 4.0% QoQ and 3.9% YoY
  • Operating Cash Flow was at ₹23.3 billion ($307.3 million1), which is 75.5% of Net Income

Results for the Year ended March 31, 2022:

  • Gross Revenue was ₹790.9 billion ($10.4 billion1), an increase of 27.7% YoY
  • IT Services Segment Revenue was at $10,355.9 million, an increase of 27.3% YoY
  • Non-GAAP constant currency IT Services Segment Revenue increased by 26.9% YoY
  • IT Services Operating Margin for the year was at 17.7%, a decrease of 254 bps YoY
  • Net Income for the year was ₹122.2 billion ($1,610.5 million1), an increase of 13.2% YoY
  • Earnings Per Share for the year was at ₹22.35 ($0.291), an increase of 17.0% YoY
  • Operating Cash Flow was at ₹110.8 billion ($1,460.4 million1), which is 90.7% of Net Income
  • closing strength of employees for IT Services was at 243,128, an increase of 45,416 employees on a YoY

IT Products
1. IT Products segment revenue for the quarter was ₹1.2 billion ($15.8 million)
2. IT Products segment results for the quarter was a loss of ₹0.02 billion ($0.29 million)
3. IT Products segment revenue for the year was ₹6.2 billion ($81.4 million)
4. IT Products segment results for the year was a profit of ₹0.12 billion ($1.5 million)

IT Services

Wipro continued to win deals as described below –

  • A US-based global healthcare company will leverage Wipro FullStride Cloud Services to engineer products for cloud and digital technologies based on a Product Oriented Delivery (POD) model.
  • US-based multinational technology company has renewed its existing contract to curate geospatial information that will enable the customer with evaluations and recommendations on map modelling processes.
  • A leading US-based global benefits and payroll administration company has awarded Wipro a transformational business process services contract to optimize costs in health & wealth benefits and customer care.
  • A multinational telecommunications network company, headquartered in the Nordics, has awarded Wipro a contract to drive transformation and digitalization of business processes that enhances customer value through high quality service delivery.
  • A leading Europe-based provider of transport solutions has partnered with Wipro to transform their digital workplace, supporting the shift towards sustainable transport solutions.

The stock of Wipro last hit in BSE,

  • Intraday High of ₹ 530.00
  • Intraday low of ₹ 507.25