Industry Summary Articles

Wipro Limited today announced financial results under International Financial Reporting Standards (IFRS) for its fourth quarter and year ended March 31, 2017.

Highlights of the Results

Results for the Year ended March 31, 2017:

Ø Gross Revenues were ₹550.4 billion ($8.5 billion), an increase of 7.4% YoY.

Ø Non-GAAP constant currency IT Services Segment Revenue in dollar terms grew 7.0% YoY.

Ø IT Services Segment Revenue was $7,704.5 million, an increase of 4.9% YoY.

Ø IT Services Segment Revenue in Rupee terms was ₹528.4 billion ($8.1 billion), an increase of 8.4% YoY.

Ø IT Services Segment Profits3 was ₹96.1 billion ($1.5 billion), a decrease of 2.2% YoY.

Ø IT Services Margins4 was 18.0% for the year. Ø Net Income2 was ₹84.9 billion ($1.3 billion), a decrease of 4.7% YoY.

Results for the Quarter ended March 31, 2017:

Ø Gross Revenues were ₹139.9 billion ($2.2 billion), an increase of 2.6% YoY.

Ø Non-GAAP constant currency IT Services Segment Revenue in dollar terms grew 1.7% sequentially and 5.2% YoY.

Ø IT Services Segment Revenue was $1,954.6 million, an increase of 2.7% sequentially and 3.9% YoY. Ø IT Services Segment Revenue in Rupee terms was ₹134.0 billion ($2.1 billion), an increase of 4.7% YoY.

Ø IT Services Segment Profits3 was ₹25.3 billion ($390 million), an increase of 0.4% YoY.

Ø IT Services Margins4 was 18.3% flat as compared to the quarter ended December 31, 2016.

Ø Net Income2 was ₹22.6 billion ($349 million), an increase of 1% YoY.

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