Wipro Q4 Results 2022: revenue growth for year up 27% YoY; net income for year up nearly 13%

Wipro Q4 Results 2022: Information Technology major Wipro has reported a sequential revenue growth for the quarter ended 31 March 2022 at 3.1 per cent in Constant Currency, the company said in its filing to the exchanges.

The revenue growth for the year stood at 27.3 per cent Year-on-Year (YoY) while the Earnings Per Share (EPS) growth rate for the year was at 17 per cent, the filing said further.

Wipro Q4FY22 Results: Key Highlights:

1) Gross Revenue was Rs 208.6 billion, an increase of 28.4 per cent YoY.

2) IT Services Segment Revenue was at USD 2,721.7 million, an increase of 3.1 per cent QoQ and 26.4 per cent YoY

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3) Non-GAAP2 constant currency IT Services segment revenue increased by 3.1 per cent QoQ and 28.5 per cent YoY

4) IT Services Operating Margin for the quarter was at 17, a decrease of 60 bps QoQ

5) Net Income for the quarter was Rs 30.9 billion, an increase of 4 per cent QoQ and 3.9 per cent YoY

6) Earnings Per Share for the quarter was at Rs 5.64, an increase of 4.6 per cent YoY

7) Operating Cash Flow was at USD 23.3 billion, which is 75.5 per cent of Net Income

Results for the Year ended March 31, 2022:

1) Gross Revenue was Rs 790.9 billion, an increase of 27.7 per cent YoY

2) IT Services Segment Revenue was at USD 10,355.9 million, an increase of 27.3 per cent YoY

3) Non-GAAP2 constant currency IT Services Segment Revenue increased by 26.9 per cent YoY

4) IT Services Operating Margin3 for the year was at 17.7 per cent, a decrease of 254 bps YoY

5) Net Income for the year was Rs 122.2 billion, an increase of 13.2 per cent YoY

6) Earnings Per Share for the year was at Rs 22.35, an increase of 17.0 per cent YoY

7) Operating Cash Flow was at ₹110.8 billion ($1,460.4 million1), which is 90.7 per cent of Net Income

“We have had an outstanding year, finishingwith $10.4 Bn in revenues, and an industry-leading growth of 27 per cent year on year. This is our sixth straight quarter of strong revenue growth at or over 3 per cent. We are excited with the addition of Rizing and the CAS Group to Wipro’s service offerings. With all markets, sectors and Global Business Lines now growing in double-digits year on year, we have a strong foundation for next year’s growth,” Thierry Delaporte, CEO and Managing Director said.

“Our efforts on client mining have resulted in an addition of eight customers in more than $100 Mn bucket on YoY basis. We delivered operating margins of 17.7 per cent for the year, after significant investments on solutions, capabilities and talent. Net Income for the year was highest ever at $1.6 Bn and delivered robust growth in EPS of 17.0 per cent YoY,” Jatin Dalal, Chief Financial Officer said.

The interim dividend of Rs 1 and Rs 5 declared by the Board at its meetings held on January 14th and March 25th, 2022 shall be considered as the final dividend for the financial year 2021-22, the company filing said.