Consolidated revenue increased by 1.3% to Rs15,670cr in the quarter under review against Rs15,470.50cr a year ago same period.
Thierry Delaporte, CEO and Managing Director said, “Wipro has delivered a second consecutive quarter of strong performance on order booking, revenue and margins. Five of our sectors grew over 4% sequentially. We closed our largest ever deal win in Continental Europe. The demand environment is steadily improving, especially for digital transformation, digital operations, and cloud services. I am also pleased to share with you that we have moved into our new organization structure and are stabilizing quickly.”
Key highlights of the Q3FY21 result were:
- IT Services Segment Revenue was at $2,071 million, a sequential growth of 3.9%.
- Non-GAAP2 constant currency IT Services Segment Revenue increased by 3.4% QoQ.
- IT Services Operating Margin for the quarter was at 21.7%, an expansion of 243 bps QoQ and 329 bps YoY.
- Earnings Per Share for the quarter was at Rs5.21 ($0.071), an increase of 20.7% YoY.
- Operating Cash Flow was at Rs44.3 billion ($607 million ), which is 149.4% of Net Income.
- Wipro declared an interim dividend of ₹1 ($0.0141 ) per equity share/ADS.
Jatin Dalal, Chief Financial Officer said, “Our margins are now at a 22 quarters high. The expansion was led by improved revenue growth trajectory and excellence in operations with several metrics at an all-time high. Our Operating Cash Flows grew by 45% YoY with a significant improvement in outstanding receivables.”
Wipro expects Revenue from IT Services business to be in the range of $2,102 million to $2,143 million. This translates to a sequential growth of 1.5% to 3.5%.