Wipro jumps over 9 per cent after posting best ever Q4 earnings
Wipro Limited, a leader in IT services posted its best-ever quarterly results in the past 10 years.
The revenue growth in terms of constant currency came in at 3 per cent QoQ for March quarter while its topline growth in dollar terms was reported at 3.9 per cent. EBIT grew by 1.1 per cent QoQ to Rs 3,417 crore while EBIT margins contracted by 80 bps QoQ to 20.92 per cent, majorly due to wage hike. On a YoY basis, these margins increased by 220 bps. PAT for March ending quarter increased by 27.8 per cent YoY to Rs 2,972 crore.
After years of painful sluggish growth, the better performance can be attributed to the rising demand for digital transformation, increasing deal pipeline, and new partnerships in the technology areas. This performance comes under the newly-appointed company CEO Thierry Delaporte.
Wipro said it added one client in over $100-million category, three in over $75-million band and two in over $50-million category. The company also added 52 customers during the quarter, taking the total active clients count to 1,120 at the end of March 2021.
Going forward, the company expects a revenue growth between 2 per cent-4 per cent in the upcoming quarter, which excludes its recent acquisition of Capco & Ampion.
At 2.01 pm on Friday, the share price of the company was trading at Rs 471.25, up by 9.34 per cent on BSE.