Wipro

13 Jan 2022 , 09:48 AM

Wipro for the quarter ended Dec 2021 registered a consolidated sales of Rs 20315 crore, a growth of 3% QoQ and 30% yoy basis. On USD terms the revenue for the quarter was up by 2.3% QoQ basis and 27% YoY basis. Eventually the net profit (after MI) was Rs 2969 crore, up 1.3% QoQ basis.

Consolidated quarterly performance QoQ comparison

Net sales (including other operating income) of Wipro has increased 3.28% to Rs 20315 crore.  

Operating profit margin has declined from 21.20% to 20.58%, leading to 0.25% rise in operating profit to Rs 4,180.70 crore.  Purchase of finished goods cost rose from 0.83% to 1.00%. Employee cost decreased from 56.58% to 56.46%.   Other expenses rose from 21.37% to 21.99%.   Selling and administration expenses rose from 2.72% to 3.04%.   Software technology development services cost fell from 13.88% to 13.86%.   

Other income fell 5.59% to Rs 476.5 crore.  PBIDT fell 0.27% to Rs 4516.9 crore.  Provision for interest fell 3.84% to Rs 140.3 crore.  

PBDT fell 0.27% to Rs 4516.9 crore.  Provision for depreciation fell 3.34% to Rs 745.9 crore.  

Profit before tax grew 0.36% to Rs 3,771.00 crore.  Provision for tax was expense of Rs 806.3 crore, compared to Rs 825.9 crore.  Effective tax rate was 21.34% compared to 21.99%.

Net profit attributable to owners of the company increased 1.31% to Rs 2,969.00 crore.  

Consolidated quarterly performance YoY comparison

Net sales (including other operating income) of Wipro has increased 29.64% to Rs 20315 crore.  

Operating profit margin has declined from 26.28% to 20.58%, leading to 1.54% rise in operating profit to Rs 4,180.70 crore.  Purchase of finished goods cost rose from 0.93% to 1.00%. Employee cost increased from 52.74% to 56.46%.   Other expenses rose from 20.09% to 21.99%.   Selling and administration expenses rose from 2.92% to 3.04%.   Software technology development services cost rose from 13.16% to 13.86%.   

Other income fell 27.15% to Rs 476.5 crore.  PBIDT fell 2.40% to Rs 4657.2 crore.  Provision for interest rose 0.21% to Rs 140.3 crore.  

PBDT fell 2.47% to Rs 4516.9 crore.  Provision for depreciation fell 5.73% to Rs 745.9 crore.  

Profit before tax down 1.80% to Rs 3,771.00 crore.  Share of profit/loss was 24.75% lower at Rs 7.6 crore.  Provision for tax was expense of Rs 806.3 crore, compared to Rs 852.6 crore.  Effective tax rate was 21.34% compared to 22.14%.

Minority interest decreased 88.93% to Rs 3.30 crore.  Net profit attributable to owners of the company increased 0.03% to Rs 2,969.00 crore.  

Promoters stake was 73.02% as of 31 December 2021 ,compared to 74.01% as of 31 December 2020 .  

Consolidated year-to-date performance.

Net sales (including other operating income) of Wipro has increased 27.93% to Rs 58451.3 crore.  

Operating profit margin has declined from 23.51% to 21.46%, leading to 16.78% rise in operating profit to Rs 12,546.10 crore.  Purchase of finished goods cost fell from 1.07% to 0.87%.   Employee cost increased from 53.92% to 56.24%.   Other expenses fell from 21.48% to 21.43%.   Selling and administration expenses rose from 2.89% to 2.93%.   Software technology development services cost rose from 13.60% to 13.70%.   

Other income fell 16.06% to Rs 1559.1 crore.  PBIDT rose 11.94% to Rs 14105.2 crore.  Provision for interest fell 9.03% to Rs 360.8 crore.  

PBDT rose 12.62% to Rs 13744.4 crore.  Provision for depreciation rose 13.52% to Rs 2343.3 crore.  

Profit before tax grew 12.43% to Rs 11,401.10 crore.  Share of profit/loss was 42.06% lower at Rs 7.3 crore.  Provision for tax was expense of Rs 2257.5 crore, compared to Rs 2259.3 crore.  Effective tax rate was 19.79% compared to 22.25%.

Minority interest decreased 87.64% to Rs 8.60 crore.  Net profit attributable to owners of the company increased 16.85% to Rs 9,142.30 crore.  

Promoters stake was 73.02% as of 31 December 2021 ,compared to 74.01% as of 31 December 2020 .  

Others:

Dividend: The company has declared an interim dividend of Rs 1 per equity share.

Management Commentary:

Thierry Delaporte, CEO and Managing Director said, Wipro has delivered a fifth consecutive quarter of strong performance, both on revenues, and margins. Order bookings have been strong too, and we have added seven new customers in the more than $100 Mn revenue league, in the last 12 months. Our strategy and improved execution continue to serve well, and we are confident of building on this momentum. We are also excited to have completed the acquisitions of Edgile and LearnSwift Solutions in the quarter, both of which will add to our capabilities significantly.

JatinDalal, Chief Financial Officer said, We delivered robust operating margins after absorbing substantial investments on salary increases, owing to continued improvement in operating metrics. We also improved our working capital, by reducing our Days Sales Outstanding. This has resulted in strong operating cash flow conversion, of 101.3% of net income. Additionally, we have declared an interim dividend of Rs 1 per equity Share

Wipro: Consolidated Financial Results

 

	2112 (3)	2109 (3)	Var. (%)	2012 (3)	Var. (%)	2112 (9)	2012 (9)	Var. (%)	2103 (12)	2003 (12)	Var. (%)
Sales	20315.00	19668.90	3	15670.00	30	58451.30	45689.50	28	61934.90	61137.60	1
OPM (%)	20.6	21.2		26.3		21.5	23.5		23.9	20.2
OP	4188.30	4169.40	0	4127.50	1	12553.40	10756.40	17	14784.40	12345.20	20
Other inc.	476.50	504.70	-6	654.10	-27	1559.10	1857.40	-16	2390.70	2725.00	-12
PBIDT	4664.80	4674.10	0	4781.60	-2	14112.50	12613.80	12	17175.10	15070.20	14
Interest	140.30	145.90	-4	140.00	0	360.80	396.60	-9	508.80	732.80	-31
PBDT	4524.50	4528.20	0	4641.60	-3	13751.70	12217.20	13	16666.30	14337.40	16
Dep.	745.90	771.70	-3	791.20	-6	2343.30	2064.20	14	2763.40	2085.50	33
PBT	3778.60	3756.50	1	3850.40	-2	11408.40	10153.00	12	13902.90	12251.90	13
Tax	806.30	825.90	-2	852.60	-5	2257.50	2259.30	0	3034.90	2480.10	22
PAT	2972.30	2930.60	1	2997.80	-1	9150.90	7893.70	16	10868.00	9771.80	11
MI	3.30	-0.10	LP	29.80	-89	8.60	69.60	-88	71.60	49.50	45
Net Profit	2969.00	2930.70	1.3	2968.00	0	9142.30	7824.10	17	10796.40	9722.30	11
EPS (Rs)*	21.7	21.4		21.7		22.2	19.0		19.7	17.7
* On post buyback equity capital of Rs 1096.2 crore, Face value Rs 2. Figures in crore Source: Capitaline Databases EO: Extraordinary items EPS is adjusted after EO and relevant tax

Powered by Capital Market – Live News