Wipro Limited announced financial results under International Financial Reporting Standards (IFRS) for its quarter ended June 30, 2019.
Highlights of the Results
Results for the Quarter ended June 30, 2019:
- Gross Revenue was ₹147.2 billion ($2.1 billion1 ), an increase of 5.3% YoY
- IT Services Segment Revenue was $2,038.8 million, an adjusted2 increase of 4.3% YoY
- Non-GAAP3 constant currency IT Services Segment Revenue declined by 0.7% QoQ. Adjusted2 Non-GAAP3 constant currency IT Services Segment Revenue grew 5.9% YoY
- IT Services Operating Margin4 for the quarter was at 18.4%, an increase of 0.8% YoY
- Net Income for the quarter was ₹23.9 billion ($346 million1 ), an increase of 12.6% YoY
- EPS for the quarter was ₹3.97 per share, an increase of 12.5% YoY
Performance for the quarter ended June 30, 2019
Abidali Z. Neemuchwala, CEO and Executive Director said, “Our efforts on client mining have resulted in an addition of three customers in more than $100 Mn bucket. We will continue to build differentiated capabilities to drive business transformation for our customers by investing in our big bets.”
Jatin Dalal, Chief Financial Officer said, “We delivered IT Services margins of 18.4% and Free Cash Flows of 98.8% of our Net Income. We had a slower start to the year, we however remain focused on our operations and continue to invest in talent and capabilities for the future.” Outlook for the Quarter ending September 30, 2019 We expect Revenue from our IT Services business to be in the range of $2,039 million to $2,080 million*. This translates to a sequential growth of 0.0% to 2.0%.
To view the full results, please visit https://www.wipro.com/content/dam/nexus/en/newsroom/press-releases/2020/pdf/press-release-wipro-q1-20.pdf
