On consolidated basis
Quarter ended June 2024 compared
with Quarter ended March 2024.
Net sales (including other operating income) of Wipro has declined 1.10% to Rs
21963.8 crore.
Operating profit margin has jumped
from 19.82% to 19.82%, leading to 1.06% decline in operating profit to Rs
4,354.10 crore. Purchase of finished goods cost fell from 0.37% to
0.30%. Employee cost decreased from 61.40% to 60.23%.
Other expenses rose from 18.40% to 19.64%. Selling and
administration expenses rose from 3.29% to 3.65%. Software
technology development services cost rose from 10.96% to 11.28%.
Other income rose 11.76% to Rs 729.7
crore. PBIDT rose 0.60% to Rs 5083.8 crore. Provision for
interest fell 0.60% to Rs 328.8 crore.
PBDT rose 0.68% to Rs 4755 crore. Provision
for depreciation fell 13.28% to Rs 728.9 crore.
Profit before tax grew 3.70% to Rs
4,026.10 crore. Share of profit/loss was 77.72% higher at Rs -4.5
crore. Provision for tax was expense of Rs 985 crore, compared to Rs
1004 crore. Effective tax rate was 24.49% compared to 26.00%.
Minority interest increased 41.53%
to Rs 33.40 crore. Net profit attributable to owners of the company
increased 5.95% to Rs 3,003.20 crore.
Promoters’ stake was 72.82% as of 30
June 2024 ,compared to 72.89% as of 31 March 2024 .
Quarter ended June 2024 compared
with Quarter ended June 2023.
Net sales (including other operating income) of Wipro has declined 3.80% to Rs
21963.8 crore. Sales of IT Services segment has gone down 3.78% to
Rs 21,896.30 crore (accounting for 99.79% of total sales). Sales of
IT Products segment has gone down 32.42% to Rs 46.90 crore (accounting for
0.21% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has slumped 7.01% to Rs 3,748.70
crore. PBIT of IT Services segment fell 7.26% to Rs 3,753.40 crore
(accounting for 100.13% of total PBIT). PBIT of IT Products segment
rose 70.81% to Rs -4.70 crore (accounting for -0.13% of total
PBIT).
PBIT margin of IT Services segment
fell from 17.79% to 17.14%. PBIT margin of IT Products segment rose
from negative 23.20% to negative 10.02%. Overall PBIT margin fell
from 17.66% to 17.08%.
Operating profit margin has jumped
from 18.41% to 19.82%, leading to 3.58% rise in operating profit to Rs 4,354.10
crore. Purchase of finished goods cost fell from 0.43% to 0.30%.
Employee cost decreased from 61.39% to 60.23%. Other
expenses fell from 19.78% to 19.64%. Selling and administration
expenses fell from 3.79% to 3.65%. Software technology development
services cost fell from 11.55% to 11.28%.
Other income rose 13.98% to Rs 729.7
crore. PBIDT rose 4.95% to Rs 5083.8 crore. Provision for
interest rose 6.55% to Rs 328.8 crore.
PBDT rose 4.85% to Rs 4755
crore. Provision for depreciation fell 1.23% to Rs 728.9
crore.
Profit before tax grew 6.03% to Rs
4,026.10 crore. Provision for tax was expense of Rs 985 crore,
compared to Rs 911.5 crore. Effective tax rate was 24.49% compared
to 24.00%.
Minority interest increased 110.06%
to Rs 33.40 crore. Net profit attributable to owners of the company
increased 4.64% to Rs 3,003.20 crore.
Promoters’ stake was 72.82% as of 30
June 2024 ,compared to 72.91% as of 30 June 2023 .
Full year results analysis.
Net sales (including other operating income) of Wipro has declined 0.80% to Rs
89760.3 crore. Sales of IT Services segment has gone down 1.05% to
Rs 89,381.60 crore (accounting for 99.54% of total sales). Sales of
IT Products segment has gone down 31.75% to Rs 412.70 crore (accounting for
0.46% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 2.96% to Rs 16,412.90
crore. PBIT of IT Services segment rose 3.08% to Rs 16,450.00 crore
(accounting for 100.23% of total PBIT). PBIT of IT Products segment fell
110.80% to Rs -37.10 crore (accounting for -0.23% of total PBIT).
PBIT margin of IT Services segment
rose from 17.67% to 18.40%. PBIT margin of IT Products segment fell
from negative 2.91% to negative 8.99%. Overall PBIT margin rose from
17.53% to 18.28%.
Operating profit margin has jumped
from 18.62% to 18.69%, leading to 0.41% decline in operating profit to Rs
16,775.80 crore. Purchase of finished goods cost fell from 0.72% to
0.43%. Employee cost increased from 59.43% to 61.22%. Other
expenses fell from 21.24% to 19.66%. Selling and administration
expenses fell from 4.04% to 3.69%. Software technology development
services cost fell from 12.74% to 11.48%.
Other income rose 15.66% to Rs
2630.8 crore. PBIDT rose 1.50% to Rs 19406.6 crore. Provision
for interest rose 24.56% to Rs 1255.2 crore. Loan funds declined
from Rs 17,466.60 crore as of 31 March 2023 to Rs 16,464.90 crore as of 31
March 2024. Inventories declined from Rs 118.80 crore as of 31 March
2023 to Rs 90.70 crore as of 31 March 2024. Sundry debtors were
lower at Rs 11,547.70 crore as of 31 March 2024 compared to Rs 12,635.00 crore
as of 31 March 2023. Cash and bank balance rose to Rs 9,695.30 crore
as of 31 March 2024 from Rs 9,188.00 crore as of 31 March
2023. Investments rose to Rs 33,384.40 crore as of 31 March 2024
from Rs 33,073.20 crore as of 31 March 2023 .
PBDT rose 0.22% to Rs 18151.4
crore. Provision for depreciation rose 2% to Rs 3407.1
crore. Fixed assets declined from Rs 15,025.40 crore as of 31 March
2023 to Rs 9,931.70 crore as of 31 March 2024. Intangible assets
increased from Rs 30,348.50 crore to Rs 34,419.70 crore.
Profit before tax down 0.18% to Rs
14,744.30 crore. Share of profit/loss was 308.77% lower at Rs -23.3
crore. Provision for tax was expense of Rs 3608.9 crore, compared to
Rs 3399.2 crore. Effective tax rate was 24.52% compared to 23.02%.
Minority interest increased 305.45%
to Rs 66.90 crore. Net profit attributable to owners of the company
decreased 2.69% to Rs 11,045.20 crore.
Equity capital decreased from Rs
1,097.60 crore as of 31 March 2023 to Rs 1,045.00 crore as of 31 March 2024
. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 72.89% as of 31
March 2024 ,compared to 72.92% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 17,621.60 crore for year ended March 2024 from Rs 13,060.10
crore for year ended March 2023. Cash flow used in acquiring fixed
assets during the year ended March 2024 stood at Rs 1,051.00 crore, compared to
Rs 1,483.40 crore during the year ended March 2023.
Outlook:
Guidance: The expect revenue from our IT Services
business segment to be in the range of $2,600 million to $2,652 million. This
translates to sequential guidance of (-)1.0% to +1.0% in constant currency
terms.
The company expects margins to remain range bound with a
upward bias.
Management
Commentary:
Srini Pallia, CEO and Managing Director, “We recorded another quarter of total large
deal bookings over $1 bn, with our largest win in the recent years. Our top
accounts continued to grow, accompanied by a growth in Americas1 SMU, BFSI and
Consumer sectors. We are pleased with the momentum we have built in Q1 across
industries and sectors and confident in our ability to execute better on
bookings and profitable growth as we transition to Q2. While we continue to
build on our ai360 strategy and preparing our workforce for an AI-first
future.”
Aparna Iyer, Chief Financial Officer, said “We continued to
expand our margins to 16.5% in Q1’25, this is a 42-bps improvement YoY. Our
margin performance is also reflected in our EPS increase of 10% YoY. Our
operating cash flows continue to be strong at 131.6% of our net income which
takes our current investment and cash balance to $5.4 billion.”
| Wipro : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202406 | 202306 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 21,963.80 | 22,831.00 | -3.80 | 89,760.30 | 90,487.60 | -0.80 | | OPM (%) | 19.82 | 18.41 | 141 bps | 18.69 | 18.62 | 7 bps | | OP | 4,354.10 | 4,203.60 | 3.58 | 16,775.80 | 16,844.70 | -0.41 | | Other Inc. | 729.70 | 640.20 | 13.98 | 2,630.80 | 2,274.60 | 15.66 | | PBIDT | 5,083.80 | 4,843.80 | 4.95 | 19,406.60 | 19,119.30 | 1.50 | | Interest | 328.80 | 308.60 | 6.55 | 1,255.20 | 1,007.70 | 24.56 | | PBDT | 4,755.00 | 4,535.20 | 4.85 | 18,151.40 | 18,111.60 | 0.22 | | Depreciation | 728.9 | 738 | -1.23 | 3407.1 | 3340.2 | 2.00 | | PBT | 4,026.10 | 3,797.20 | 6.03 | 14744.3 | 14771.4 | -0.18 | | Share of Profit/(Loss) from Associates | -4.5 | 0.3 | PL | -23.3 | -5.7 | -308.77 | | PBT before EO | 4021.6 | 3797.5 | 5.90 | 14721 | 14765.7 | -0.30 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 4021.6 | 3797.5 | 5.90 | 14721 | 14765.7 | -0.30 | | Taxation | 985 | 911.5 | 8.06 | 3608.9 | 3399.2 | 6.17 | | PAT | 3036.6 | 2886 | 5.22 | 11112.1 | 11366.5 | -2.24 | | Minority Interest (MI) | 33.4 | 15.9 | 110.06 | 66.9 | 16.5 | 305.45 | | Net profit | 3003.2 | 2870.1 | 4.64 | 11045.2 | 11350 | -2.69 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 3003.2 | 2870.1 | 4.64 | 11045.2 | 11350 | -2.69 | | EPS (Rs)* | 5.74 | 5.49 | 4.64 | 21.12 | 21.70 | -2.69 | | | * EPS is on current equity of Rs 1,046.09 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Wipro : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202406 | 202306 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Global IT Services & Products | 0.00 | 0.00 | 0.00 | - | | India & Asia Pac IT Serv. & Product | 0.00 | 0.00 | 0.00 | - | | Consumer Care & Lighting | 0.00 | 0.00 | 0.00 | - | | Others | 0.00 | 0.00 | 0.00 | - | | IT Services | 99.79 | 21,896.30 | 22,755.40 | -3.78 | 99.54 | 89,381.60 | 90,330.10 | -1.05 | | IT Products | 0.21 | 46.90 | 69.40 | -32.42 | 0.46 | 412.70 | 604.70 | -31.75 | | IT Services & Products | 0.00 | 0.00 | 0.00 | - | | India State Run Enterprise | 0.00 | 0.00 | 0.00 | - | | Total Reported Sales | 100.00 | 21,943.20 | 22,824.80 | -3.86 | 100.00 | 89,794.30 | 90,934.80 | -1.25 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 21,943.20 | 22,824.80 | -3.86 | 100.00 | 89,794.30 | 90,934.80 | -1.25 | | PBIT | | Global IT Services & Products | 0.00 | 0.00 | 0.00 | - | | India & Asia Pac IT Serv. & Product | 0.00 | 0.00 | 0.00 | - | | Consumer Care & Lighting | 0.00 | 0.00 | 0.00 | - | | Others | 0.00 | 0.00 | 0.00 | - | | IT Services | 100.13 | 3,753.40 | 4,047.40 | -7.26 | 100.23 | 16,450.00 | 15,959.20 | 3.08 | | IT Products | -0.13 | -4.70 | -16.10 | 70.81 | -0.23 | -37.10 | -17.60 | -110.80 | | IT Services & Products | 0.00 | 0.00 | 0.00 | - | | India State Run Enterprise | 0.00 | 0.00 | 0.00 | - | | Total PBIT | 100.00 | 3,748.70 | 4,031.30 | -7.01 | 100.00 | 16,412.90 | 15,941.60 | 2.96 | | Less : Interest | | 328.80 | 308.60 | 6.55 | | 1,255.20 | 1,007.70 | 24.56 | | Add: Other un-allcoable | | 601.70 | 74.80 | 704.41 | | -436.70 | -168.20 | -159.63 | | PBIT Margin(%) | | Global IT Services & Products | | 0.00 | 0.00 | 0.00 | | India & Asia Pac IT Serv. & Product | | 0.00 | 0.00 | 0.00 | | Consumer Care & Lighting | | 0.00 | 0.00 | 0.00 | | Others | | 0.00 | 0.00 | 0.00 | | IT Services | | 17.14 | 17.79 | -64.48 | | 18.40 | 17.67 | 73.66 | | IT Products | | -10.02 | -23.20 | 1,317.75 | | -8.99 | -2.91 | -607.90 | | IT Services & Products | | 0.00 | 0.00 | 0.00 | | India State Run Enterprise | | 0.00 | 0.00 | 0.00 | | PBT | 100.00 | 4,021.60 | 3,797.50 | 5.90 | 100.00 | 14,721.00 | 14,765.70 | -0.30 |
|
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