Wipro Limited announced financial results under International Financial Reporting Standards (IFRS) for its quarter ended December 31, 2019.
Results for the Quarter ended December 31, 2019:
Gross Revenue was ₹154.7 billion ($2.2 billion1 ), an increase of 2.7% YoY
IT Services Segment Revenue was at $2,094.8 million, a sequential growth of 2.2%
Non-GAAP2 constant currency IT Services Segment Revenue increased by 1.8% QoQ
IT Services Operating Margin3 for the quarter was at 18.4%, an increase of 0.3% QoQ
Net Income for the quarter was ₹24.6 billion ($344 million1 ), a decrease of 2.2% YoY
EPS for the quarter was ₹4.3 ($0.061 ) per share and grew 3.2% YoY
Wipro declared an interim dividend of ₹1 ($0.014 1 ) per equity share/ADS Performance for the quarter ended December 31, 2019
Abidali Z. Neemuchwala, CEO and Managing Director said, “We have delivered a good quarter with secular growth across all business units, geographies and practices. We remain focused on deepening our customer relationships, converting our funnel and winning large deals.” Jatin Dalal, Chief Financial Officer said, “We expanded operating margins by 0.3% aided by a favorable movement in the currency. Further, we generated strong operating cash flows led by disciplined execution at 124% of our Net Income.”
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