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Wipro Q4 Results Live Updates: PAT at Rs 2830 cr vs ET NOW poll of Rs 2880 cr
19 Apr, 2024 | 06:41:32 PM IST
Wipro Q4 Results Live Updates: IT services company Wipro's consolidated net profit fell 8% year-on-year (YoY) to Rs 2,835 crore for the quarter ended March 2024. It was Rs 3,074 crore in the last year quarter. Read full article here
1 New Update
Wipro Q4 Results Live Updates: Operating cash flows at 158.6% of net income for the year
We expanded our margins by 40 basis points duringthe quarter resulting in EPS growth of 5.2% QoQ in Q4. Despite a challenging macro-environmentour IT services margin expanded by 50 basis points for the full year FY24. We generated highestoperating cash flow in recent years which is at 183% of our net- income in Q4 and 159% on a fullyear basis.
- Aparna Iyer, Chief Financial Officer, Wipro
Wipro Q4 Results Live Updates: Attrition volume (TTM) at 14.2%
Total headcount at 234,054.
Wipro Q4 Results Live Updates: The interim dividend of Re 1 declared by the company's board
Wipro Q4 Results Live Updates: Total bookings at $3.6 billion, declining 14% YoY
- Large deal TCV at $1.2 billion, rising 9.5% YoYFY 24
- Large deal bookings at $4.6 billion, a YoY increase of 17.4%.
FY24 proved to be a challenging year for ourindustry, and the macroeconomic environment remains uncertain. However, I am optimistic aboutthe opportunities that lie ahead. We are on the brink of a major technological shift. Artificialintelligence is transforming our clients’ needs as they seek to harness its power for competitiveadvantage and enhanced business value. At Wipro, we have been gearing up for this moment.We have the capabilities, leadership, and the strength of over 230,000 Wiproites around the worldto help us realize our goals. Although there’s a considerable amount of work ahead of us, I amconfident that together, with our collective effort, we can pave the way for the next chapter ofgrowth.
- Srini Pallia, CEO and Managing Director, Wipro
Wipro Q4 Results Live Updates: Key Highlights
- Gross revenue reached Rs 222.1 billion ($2.7 billion), flat QoQ
- IT services segment revenue was at $2,657.4 million, an increase of 0.1% QoQ and decrease of 6.4% YoY
- Non-GAAP constant currency IT Services segment revenue decreased 0.3% QoQ, and 6.6% YoY.
- Total bookings was at $3.6 billion. Large deal bookings was at $1.2 billion, increase of 31.1% QoQ and 9.5% YoY
- IT services operating margin for the quarter was at 16.4%, up by 40 bps QoQ
Wipro Q4 Results Live Updates: Co pegs IT services revenue guidance at -1.5% to 0.5% in CC terms
Co expect revenue from IT Services business segment to be in the range of $2,617 millionto $2,670 million. This translates to sequential guidance of (-)1.5% to +0.5% in constant currencyterms.
Wipro Q4 Results: Profit falls 8% YoY to Rs 2,835 crore, marginally misses estimates
IT services company Wipro's consolidated net profit fell 8% year-on-year (YoY) to Rs 2,835 crore for the quarter ended March 2024. It was Rs 3,074 crore in the last year quarter.
The profit figure was slightly below the ET Now Poll estimate of Rs 2880 crore.
The profit figure was slightly below the ET Now Poll estimate of Rs 2880 crore.
Wipro Q4 Results Live Updates: Revenue from operations in the reporting period also declined 4% year-on-year
Revenue from operations in the reporting period also declined 4% year-on-year to Rs 22208 crore, compared with Rs 23,190 crore in the corresponding period of last year.
Wipro Q4 Results Live Updates: Co re-appoints Mr. Azim H. Premji as non-executive director
- Re-appointment of Mr. Azim H. Premji as Non-Executive, NonIndependent Director for a period of 5 years.
- Re-appointment of Mr. Rishad A. Premji as Whole-Time Director designated as Executive Chairman for a period of 5 years
Wipro Q4 Results Live Updates: PAT at Rs 2830 cr vs ET NOW poll of Rs 2880 cr
Wipro Q4 Results Live Updates: Key expectations from Wipro
- Anticipate a 0.2% q-q decline in USD services revenue (flat q-q in CC), surpassing the midpoint of the guidance.
- Factors contributing to this include extended furloughs and the ongoing impact of a slowdown due to reduced discretionary tech spending.
- Project a 22 basis points q-q expansion in IT services EBIT margin to 16.2%, driven by operating efficiencies and cost optimization.
- Expect Wipro to provide guidance for quarterly CC revenue growth of -1% to 1% q-q for 1QFY25.
- Source: BNP Paribas
Wipro Q4 Results Live Updates | Revenue forecast by Trendlyne
Wipro Ltd.'s Revenue was higher than average estimate 2 times in past 3 years.
Wipro Q4 Results Live Updates: Wipro trades higher as market rebounds
Price as on 01:55:57 PM 01:55 PM, Click on company names for their live prices.
Wipro Q4 Results Live Updates: ICICI Securities on Wipro Q4 results expectations
- Anticipate a 0.3% USD/CC QoQ revenue contraction due to a demand slowdown, particularly in the BFSI sector.
- Wipro's significant exposure to BFSI, standing at 32.7% among tier-I companies, may amplify the impact of softness in BFSI demand.
- High exposure to the consulting business (~12-14% of revenue) may also affect Wipro's performance.
- Expect EBIT margin to increase by 20 basis points QoQ as the wage hike effect concludes in Q3FY24.
Wipro Q4 Results Live Updates: JM FInancial sees -0.2% cc revenue growth for Wipro
We expect -0.2% cc revenue growth with a 25bps cross currency tailwind, translating into flat QoQ USD revenue growth for IT Services, resulting in a flat reported USD revenue growth QoQ CC growth will likely be in the upper half of the guided band of -1.5% to 0.5%
Wipro Q4 Results Live Updates: Wipro EBIT margin likely to fall
We anticipate EBIT margins to decrease by 15 basis points to 15.9% due to the two-month incremental impact of the wage hike. However, we expect the cost-efficiency program to largely counterbalance the impact of the wage hike.
- JM Financial
- JM Financial
Wipro Q4 Results Live Updates: KIE on Wipro's Q4 results preview
- Anticipate a sequential revenue decline of 0.4% QoQ due to a weak demand environment.
- Revenue expected to align with the mid-point of guidance at (1.5)-0.5%.
- Stable EBIT margin forecasted, with the impact of wage revision offset by non-recurrence of accelerated amortization from December 2023.
- Muted TCV and ACV numbers projected due to lack of significant deal announcements.
- Forecast revenue growth guidance of -0.5% to 1.5% for the June 2024 quarter.
- Investor focus expected on:
- Reasons for ongoing senior leadership attrition.
- Factors contributing to growth rate lag compared to peers and plans for turnaround.
- Sustainability of green shoots in consulting business (Capco and Rizing).
- Positioning in cost take-out and vendor consolidation deals where Wipro may be vulnerable.
- Margin enhancement strategies to achieve aspirational margin level of 17%+.
Wipro Q4 Results Live Updates: Wipro shares recoup most losses, trade flat ahead of Q4 show
Price as on 11:50:08 AM 11:50 AM, Click on company names for their live prices.
Wipro Q4 Results Live Updates: 3 things to watch out for in Wipro's Q4 numbers
- When will the conversion of TCV to revenue pick up?
- Impact of high-profile senior management exits on the business is t
- Is the recovery in the Consulting piece continuing?
- Source: Nirmal Bang
Wipro Q4 Results Live Updates: Nirmal Bang's expectations from Wipro's Q4 show
- Estimated 0.5% CC QoQ revenue growth in 4QFY24, compared to (-)1.5% to 0.5% CC growth guidance.
- Expected cross-currency tailwind of approximately 25 bps.
- Wipro's growth outlook influenced by cautiously optimistic guidance and indication of green shoots in discretionary spending, particularly in consulting.
- Consistent TCV delivery of $3 billion+ for the last five consecutive quarters, with 3QFY24 TCV at a healthy $3.8 billion.
- Anticipated TCV to remain above $3 billion, supported by Wipro's strategy of letting go of small and loss-making accounts and focusing on larger deals.
- Challenge lies in converting TCV to revenue, which appears more acute compared to peers.
Wipro Q4 Results Live Updates: Nuvama on Wipro's Q4 results expectations
- Anticipate IT Services revenue to decline by 0.5% QoQ in constant currency (CC) and 0.1% QoQ in USD.
- Expect steady margins QoQ, despite the impact of a two-month wage hike.
- Foresee Wipro providing a revenue growth guidance of -1% to +1% QoQ in CC for Q1FY25.
- Keep an eye out for updates on the consultancy business and enhancements in deal execution.
Wipro Q4 Results Live Updates: All stocks in the Nifty IT pack in the red
- Infosys, LTIMindtree among top losers; Wipro also in the red ahead of Q4 show
Wipro Q4 Results Live Updates: Wipro stock trades in the red ahead of Q4 results
Price as on 10:09:12 AM 10:09 AM, Click on company names for their live prices.
Wipro Q4 Results Live Updates: Change at the top
- The abrupt departure of CEO Thierry Delaporte earlier this month led to a sharp decline in Wipro shares. His exit occurred at a challenging juncture for the company, which was grappling with below-industry-average growth amidst a gloomy global landscape.
- During Delaporte's tenure, Wipro's performance lagged behind that of its peers for the past two years. Nevertheless, Delaporte implemented various initiatives to rejuvenate Wipro's business. These measures encompassed streamlining the business structure, increasing local hiring, and executing strategic acquisitions such as Capco and Rizing.
Wipro Q4 Results Live Updates: Street eyes report card from new MD & CEO
Beyond the earnings figures, the focus of the Street will be squarely on the new MD and CEO Srini Pallia, eager to learn about the strategic roadmap aimed at revitalizing Wipro's growth trajectory in the current fiscal year.
Wipro Q4 Results Live Updates: Profit, revenue growth to be weak
According to estimates provided by 10 brokerage firms, the company's consolidated revenue for the reporting quarter is projected to remain flat sequentially and decrease by 4.3% year-on-year (YoY) to Rs 22,185 crore. However, consolidated net profit is expected to increase by nearly 4% sequentially while experiencing a significant decline of 9% YoY to Rs 2,799 crore.
Wipro Q4 Results Live Updates: The Bengaluru-headquartered IT firm will release its March quarter results today
