Wipro Q4 PAT up 4% QoQ to Rs 3,087 crore

Wipro reported 4% rise in consolidated net profit to Rs 3,087.3 crore on a 3% increase in revenue to Rs 20,860 crore in Q4 FY22 over Q3 FY22.

As compared with Q4 FY21, the company's net profit and revenue are higher by 4% and 28%, respectively.

In dollar terms, Wipro's gross revenue was $2.7 billion in the fourth quarter of financial year ended 2022. IT Services segment revenue was at $2,721.7 million, an increase of 3.1% QoQ and 26.4% YoY. IT Services operating margin for the quarter was at 17%, a decrease of 60 bps QoQ.

Non-GAAP constant currency IT Services segment revenue increased by 3.1% QoQ and 28.5% YoY.

Wipro said that it expects the revenue from IT Services business to be in the range of $2,748 million to $2,803million. This translates to a sequential growth of 1% to 3%.

The company recorded 13% rise in net profit to Rs 12,229.6 crore on a 28% increase in revenue to Rs 79,093.4 crore in FY22 over FY21.

Total Headcount as on 31 March 2022 was 243,128. TTM attrition rate was 23.8%.

The company closed 37 large deals resulting in a TCV of over $2.3 billion in FY22.

Thierry Delaporte, CEO and managing director, said, We have had an outstanding year, finishing with $10.4 billion in revenues, and an industry-leading growth of 27% year on year. This is our sixth straight quarter of strong revenue growth at or over 3%. We are excited with the addition of Rizing and the CAS Group to Wipro's service offerings. With all markets, sectors and global business lines now growing in double-digits year on year, we have a strong foundation for next year's growth."

Jatin Dalal, chief financial officer, said, Our efforts on client mining have resulted in an addition of eight customers in more than $100 million bucket on YoY basis. We delivered operating margins of 17.7% for the year, after significant investments on solutions, capabilities and talent. Net Income for the year was highest ever at $1.6 billion and delivered robust growth in EPS of 17.0% YoY."

Wipro is a global information technology, consulting and business process services company.

The scrip fell 2.59% to end at Rs 509 on the BSE today.

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