Last updated on January 31st, 2022 at 10:19 am
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Wipro, an IT services company, reported a consolidated net profit of Rs 2,969 crore for the December 2021 quarter on Wednesday, citing high revenue and order bookings.
According to a regulatory statement by Wipro, the net profit attributable to shareholders in the year-ago period was Rs 2,968 crore.
Its net profit increased by 1.3 percent on a sequential basis, according to the company.
Its income from operations increased by 29.6% to Rs 20,313.6 crore in the quarter ending December 2020, up from Rs 15,670 crore in the previous quarter.
Wipro expects revenues from its IT services sector to be in the range of USD 2,692 million to USD 2,745 million, according to the company. in the quarter of March 2022 For the March quarter, this amounts to a sequential growth rate of 2% to 4%.
IT services revenue increased 2.3 percent sequentially to USD 2,639.7 million in the December 2021 quarter, in line with the company’s October projection.
Wipro said in October that it anticipates revenue from its IT services sector in the December quarter to be in the region of USD 2,631-2,683 million, up 2-4 percent sequentially.
“Wipro has generated a good performance for the fifth quarter in a row, both in terms of revenues and profits.
“Order bookings have been solid as well, with seven new customers in the $100 million revenue range added in the last several months. Wipro CEO and Managing Director Thierry Delaporte stated in a statement that revenue would be in the region of USD 2,692 million to USD 2,745 million over the next 12 months.
Wipro’s strategy and improved execution, he noted, are continuing to serve the company well, and the company is optimistic about continuing to expand on this momentum.
“We’re also pleased to have completed the acquisitions of Edgile and LeanSwift Solutions in the quarter, both of which will significantly enhance our capabilities,” he added.
Due to ongoing improvement in operating metrics, Wipro Chief Financial Officer Jatin Dalal stated the business maintained healthy operating margins after absorbing significant investments in wage hikes.
On a net basis, the company’s IT services workforce increased by 41,363 personnel year over year to 231,671. It increased by 10,306 people. During the quarter, employees during the quarter, it hired 10,306 people.
An interim dividend of Re 1 per equity share has been issued by Wipro.
On the BSE, Wipro shares ended the day marginally lower at Rs 691.35 per share. Aftermarket hours, the results were announced.
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