Wipro Q4 consolidated net profit rises 4% to Rs 3,087 crore

Attrition rate at near 24%, revenue up over 28% to Rs 20,860 crore

IT major Wipro on Friday reported a 4 per cent rise in its consolidated net profit to Rs 3,087.30 crore for the quarter ended March, from Rs 2,972.30 crore posted in the same quarter last year.

The consolidated revenue from operations stood at Rs 20,860 crore, up 28.4 per cent from Rs 16,245.4 crore in the year-ago quarter.

Wipro reported an attrition rate at 23.8 per cent.

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

In the reported quarter, its IT services revenues  was at $2,721.7 million, an increase of 3.1% QoQ and 26.4% YoY.

“We have had an outstanding year, finishing with $10.4 billion in revenues, and an industry-leading growth of 27 per cent year-on-year,” said Thierry Delaporte, CEO and Managing Director, Wipro. “This is our sixth straight quarter of strong revenue growth at or over three per cent. 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."

On Friday, Wipro shares shed 2.59 per cent to close at Rs 509.00 a share on BSE.