Wipro Q4 Results 2020: On account of IT Services Segment Revenue logging year on year (YoY) growth at 1.7 per cent, IT Services Operating Margin logging an expansion of 0.2 pr cent YoY and EPS per share growth of 11.2 pr cent yoY, the IT major Wipro reported 4.2 per cent increase in its grow revenue at Rs 610.2 billion. The Wipro Q4 Results 2020 announced today revealed an 8 per cent YoY growth in the net income which stands at Rs 97.2 billion on 31st March 2020. Wipro informed that the Wipro Board has not recommended any final dividend. The interim dividend of Re 1 declared by the Board at its meeting held on January 14, 2020 shall be considered as the final dividend for the financial year 2019-20. Thus, the total dividend for the financial year 2019-20 remains Re 1 per equity share.

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Speaking on Wipro Q4 Quarterly results Abidali Z Neemuchwala, CEO and Managing Director at Wipro said, “In these unprecedented times, I am extremely proud of how the Wipro team has come together and worked 24/7 to ensure the safety and well-being of each other while continuing to serve our clients. We hope that all of us stay safe and strong during these tough times. We are confident that our broad portfolio of services and our ability to execute to our commitments makes us well-positioned to gain market share.”

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Jatin Dalal, Chief Financial Officer said, “The quarters ahead seem challenging and requires a tremendous response on costs. We also anticipate our working capital to increase, but our strong balance sheet provides us the confidence that we will emerge stronger and better.Further, due to the volatility in the external environment, we have decided not to provide a quarterly guidance on revenues,” adding, "We estimate that the IT Services Revenues for the quarter ended March 31, 2020 were negatively impacted by COVID-19 by approximately $14-$16 million5(0.7%-0.8% of revenues). Due to the uncertainty around the course of the COVID-19 pandemic, we do not have visibility into the extent to which it will disrupt our operations, and we have decided to not provide revenue guidance for the quarter ending June 30, 2020.  We anticipate that we will resume providing revenue guidance when we have increased certainty of both demand and supply side factors."

Highlights of the Wipro Q4 Results 2020:

Results for the Year ended March 31, 2020:
1] Gross Revenue was Rs 610.2 billion ($8.1 billion), an increase of 4.2% YoY;
2] IT Services Segment Revenue was at $8,256.2 million, grew at 1.7% YoY;
3] Non-GAAP2&3 constant currency IT Services Segment Revenue increased by 3.9% YoY;
4] IT Services Operating Margin for the year was at 18.1%, an expansion of 0.2% YoY;
5] Net Income for the year was Rs 97.2 billion ($1.3 billion1), an increase of 8.0% YoY; and
6] EPS for the year was Rs 16.67($0.221) per share and grew 11.2% YoY.

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Results for the Quarter ended March 31, 2020:
1] Gross Revenue was Rs 157.1 billion ($2.1 billion), an increase of 4.7% YoY;
2] IT Services Segment Revenue was at $2,073.7 million, a decrease of 1.0% QoQ;
3] Non-GAAP3 constant currency IT Services Segment Revenue increased by 0.4%QoQ;
4] IT Services Operating Margin4for the quarter was at 17.6%, a decrease of 0.8% QoQ;
5] Net Income for the quarter was Rs 23.3 billion ($308.5 million1), a decrease of 6.3% YoY;
6] EPS for the quarter was Rs 4.09($0.051) per share, a decrease of 1.1% YoY;
7] The Board has not recommended any final dividend. The interim dividend of Rs 1 declared by the Board at its meeting held on January 14, 2020 shall be considered as the final dividend for the financial year 2019-20. Thus, the total dividend for the financial year 2019-20 remains Rs 1 per equity share.