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Wipro Q1 results: Key 5 highlights you must know

The IT firm registered Rs 2,026.80 crore profit in the year-ago quarter.

Jul 20, 2018, 05.56 PM IST
NEW DELHI: Software major Wipro on Friday posted a 5.16 per cent year-on-year (YoY) drop in standalone net profit at Rs 1,922 crore for the June quarter.

The IT firm registered Rs 2,026.80 crore profit in the year-ago quarter.

The bottom line grew 9.40 per cent on a quarter-on-quarter basis.

Standalone revenue for the quarter rose 3.10 per cent YoY and 2 per cent QoQ to Rs 12,157.20 crore during April-June.

Here are five key takeaways from Wipro’s Q1 earnings.

Outlook: The company expects revenue from its IT Services business to be in the range of $2,009- 2,049 million for the quarter to September 2018. This translates into a sequential growth of 0.3 per cent to 2.3 per cent, excluding the impact of the divestment of hosted data centre services business, which concluded in the three months to June.

From the desk of CEO: Abidali Z Neemuchwala in a release said, “We have seen a pick-up in spending in developed markets, particularly in North America and BFSI. Our investments in Digital continue to help us build differentiation in key industry segments, which is resulting in a consistent improvement in our client metrics. We have had a good quarter of order bookings and I am confident we are moving in the right direction.”

EPS: Earnings per share (EPS) for the quarter came in at Rs 4.71 per share, up 9.9 per cent on a YoY basis.

Dollar revenue: IT services segment revenue in dollar terms stood at $2,026.5 million, down 1.7 per cent sequentially, but up 2.8 per cent annually. IT services margin for the quarter stood at 17.2 per cent.

Operating cash flow: The figure was Rs 2,880 crore for the June quarter, 136 per cent of net income. The company had net cash of Rs 20,369 crore at the end of Q1 FY19.
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