Wipro reports Q4FY19 results, announces Rs 10,500 crore share buyback

Leading IT service provider Wipro announced its fourth quarter results for financial year 2018-19.

Wipro’s consolidated revenue for Q4FY19 remained largely flat at Rs 15,192.5 crore as compared to Rs 15,150.6 crore in the previous quarter of the same fiscal. The BFSI (31 per cent of total revenue) and CBU (16 per cent of revenue) verticals remained stable at around Rs 4,604.3 crore and Rs 2,366.7 crore, respectively, while revenues from other verticals dipped slightly, which resulted in stable revenue for the quarter.

EBITDA for the quarter fell by 2.73 per cent QoQ to Rs 3291.5 crores with a corresponding margin contraction of 67 bps. EBITDA margin for the quarter stood at 21.67 per cent. The PAT for the quarter came in at Rs 2493.7 crores, a QoQ decline of 2 per cent.

Notably, to reward the shareholders, the board of directors has approved a share buyback proposal aggregating Rs 10,500 crore at a price of Rs 325 per share, which represents nearly 16 per cent premium over today’s closing price.