Wipro net up 38% quarterly, 12.4% yearly

Global software major Wipro on Tuesday reported a Rs 2,494 crore net profit in the fourth quarter of fiscal 2018-19, registering 38 percent annual growth.

For fiscal 2018-19, net profit grew 12.4 per cent annually to Rs 9,000 crore.

In a regulatory filing on the BSE, the city-based IT major said revenue for the quarter under review grew 9 per cent annually to Rs 15,006 crore.

Revenue from IT services business grew 2.8 per cent annually and 1.4 per cent quarterly to Rs 14,565 crore for the quarter.

Under the International Financial Reporting Standard (IFRS), net income for the quarter is $359 million, total revenue $2.2 billion and $2,076 million from IT services.

Gross revenue for the fiscal grew 7.5 per cent annually to Rs 58,580 crore ($8.5 billion) and 3.8 per cent annually to Rs 56,970 crore from IT services.

Revenue from IT products business was Rs 280 crore ($39.9 million) for the quarter and Rs 1,230 crore ($178 million) for the fiscal.

Operating margin from IT services for the quarter at 19 per cent was 4.4 per cent up annually and 17.9 per cent for the fiscal which is 1.8 per cent annual growth.

The firm projected $2,046-2,087 million revenue from its IT services for the first quarter of new fiscal 2019-20, which will be a flat growth of 0.1-1.0% rate quarterly. IANS