Wipro reported a mixed set of numbers for Q4FY19. Top-line declined by 0.4% qoq to Rs15,006cr, which is marginally lower than the median consensus estimates of Rs15,061cr. EBIT came in at Rs2,546cr, down 8.3% qoq, against median consensus estimate of Rs2,747cr. EBIT margin contracted by 147bps qoq to 17.0%. Reported PAT declined by 1.1% qoq to Rs2,483cr against median consensus estimate of Rs2,482cr.
IT Services grew by 1.0% qoq in constant currency terms (cc). IT services revenue came in at USD 2,075.5mn. IT services margins were at 19%.
Consumer Business Unit (+5.3% qoq cc) drove overall growth along with Health Business Unit (+2.1% qoq cc) which rebounded after being impacted from ramp downs. BFSI, up 1.3% qoq cc. BFSI growth has been stellar and this is after seven consecutive quarters of ~3% qoq cc growth.
Energy, Natural Resources & Utilities declined by 0.1% qoq cc after three straight quarters of strong growth. Communications was down by 1.2% qoq cc, while manufacturing and technology were down by 0.7% qoq cc and 2% qoq cc respectively.
Amongst geographies, Americas drove growth, up 3.1% qoq cc, while Europe declined by 3% qoq cc. ROW was flat at +0.3%.
Digital grew 6.4% qoq and is now at 34.8% of overall revenue.
The company has added three accounts to USD75+ revenue bucket.
The company has guided for IT services revenues in the range of USD2,046mn to USD2,087 million which implies sequential growth of -1.0% to 1.0%. This is excluding the impact of the divestment of Workday and Cornerstone On Demand business.
The company has announced a buyback of up to 5.35% of paid up share capital. The total buyback size is Rs10,500cr at Rs325 per share.
Wipro Ltd is currently trading at Rs. 281.10, down by 7.05 points or 2.45% from its previous closing of Rs. 288.15 on the BSE.
The scrip opened at Rs. 291.30 and has touched a high and low of Rs. 291.95 and Rs. 278.10 respectively. So far 2,17,95,263 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
Please use the temporary password sent on your email id or mobile no.
Update Mobile no.
Why you need to update your Mobile number ?
By providing verified mobile number we provide more exclusive information in the website.
Update Mobile no.
Terms & Conditions
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.