Wipro Q4 net profit rises 27% to Rs 2,970 crore, 'best' result in a decade

IT services performance, which is tracked by the street widely, reported revenue of Rs 16,334 crore, growing 3.9 per cent sequentially

Bengaluru-headquartered Wipro on Thursday reported consolidated net profit of Rs 2,970 crore in the fourth quarter ended March 31, 2021, an increase of 27.8 per cent year-on-year (YoY) and a 0.1 per cent rise sequentially.

Total revenue for the quarter grew 3.4 per cent at Rs 16,250 crore YoY, and was up 3.7 per cent sequentially. Not only were the numbers better than Bloomberg consensus estimates of Rs 16,097.1 crore (revenue) and Rs 2,892.8 crore (net profit), but the management commentary was also positive.

Thierry Delaporte, chief executive officer and managing director, termed the fourth quarter FY21 numbers the best ever for