Wipro Q4 2020 Results: Gross income increases 4.2%, annual net income increases 8%, annual dividend Re 1

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Wipro Q4 2020 results: Due to annual IT services segment revenue growth of 1.7%, IT services operating margin growing 0.2% year-on-year and EPS per share growth from 11.2% year on year, the computer major Wipro said one hundred increase in its turnover to Rs 610.2 billion. The Wipro Q4 2020 results announced today revealed an 8% year-over-year growth in net profit which stood at Rs 97.2 billion as of March 31, 2020. Wipro has informed that the Wipro board of directors does not recommended no final dividend. The interim dividend of Re 1 declared by the Board at its meeting on January 14, 2020 will be considered as the balance of the dividend for the 2019-20 fiscal year. Thus, the total dividend for the 2019-20 financial year remains Re 1 per share.

Speaking on the quarterly results of Wipro Q4, Abidali Z Neemuchwala, CEO and Managing Director of Wipro, said: “In these unprecedented times, I am extremely proud of the way the Wipro team has come together and has worked 24/7 to ensure the safety and well-being of each other while continuing to serve our customers. We hope we all stay safe and strong in these difficult times. We are convinced that our broad portfolio of services and our ability to honor our commitments put us in a good position to gain market share. “

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Jatin Dalal, CFO, said: “The coming quarters look tough and require a huge cost response. We also anticipate an increase in our working capital, but our strong balance sheet gives us confidence that we will come out stronger and better. In addition, due to the volatility of the external environment, we have decided not to provide quarterly revenue guidance ”, adding:“ We estimate that IT services revenue for the quarter ended March 31, 2020 was been negatively affected by COVID-19 by approximately $ 14 to $ 16 million5 (0.7% -0.8% of revenue). Due to the uncertainty surrounding the course of the COVID-19 pandemic, we have no visibility on the extent to which this will disrupt our operations, and we have decided not to provide a revenue forecast for the quarter to come. ending June 30, 2020. We expect we will resume providing revenue forecasts when we have increased certainty in demand and supply factors. “

Highlights of the Wipro Q4 2020 results:

Results for the fiscal year ended March 31, 2020:
1]Gross income was Rs 610.2 billion ($ 8.1 billion), an increase of 4.2% year-on-year;
2]IT services segment revenue was $ 8,256.2 million, growing 1.7% year-on-year;
3]Non-GAAP constant currency IT services segment revenue2 and 3 increased 3.9% year-on-year;
4]The IT services operating margin for the year was 18.1%, an expansion of 0.2% year-on-year;
5]The net income for the year was Rs 97.2 billion ($ 1.3 billion1), an increase of 8.0% year-on-year; and
6]EPS for the year was Rs 16.67 ($ 0.221) per share and increased 11.2% year-on-year.

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Résultats du trimestre terminé le 31 mars 2020 :
1]Gross income was Rs 157.1 billion ($ 2.1 billion), an increase of 4.7% year-on-year;
2]IT services segment revenue was $ 2,073.7 million, down 1.0% quarter-on-quarter;
3]IT Services segment revenue at constant non-GAAP3 currencies increased 0.4% quarter on quarter;
4]The IT services operating margin4 for the quarter was 17.6%, down 0.8% quarter on quarter;
5]Net profit for the quarter was 23.3 billion rupees ($ 308.5 million1), down 6.3% year-on-year;
6]EPS for the quarter was Rs 4.09 ($ 0.051) per share, down 1.1% year-on-year;
7]The Board has not recommended any final dividend. The interim dividend of Rs 1 declared by the Board of Directors at its meeting on January 14, 2020 will be considered as the balance of the dividend for the 2019-2020 financial year. Thus, the total dividend for the 2019-20 financial year remains Rs 1 per share.



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