Wipro has announced its results for the April-June quarter (Q1). The IT company reported a net profit of ₹3,352 crore, almost unchanged from ₹3,330 crore in the same quarter last year.
The company’s revenue from operations rose 11% year-on-year to ₹24,479 crore, compared to ₹22,135 crore a year ago. However, compared to the previous quarter, profit fell 4.2%, while revenue increased by just 1%.
Wipro Declares ₹2 Interim Dividend
Along with its quarterly results, Wipro’s board approved an interim dividend of ₹2 per share.
Wipro CFO Aparna Iyer said the company will return more than $3 billion to shareholders through dividends and other payouts over the past year, while continuing to invest in future growth.
Companies generally pay dividends to reward shareholders when they are making profits. The amount of the dividend is decided by the company’s board.
Bookings, Margins and Cash Flow
Wipro’s total bookings for the quarter stood at $3.37 billion, down 2.4% from the previous quarter.
However, large deal bookings increased 12.9% to $1.63 billion, showing continued demand for bigger contracts.
The company’s operating margin was 16%, down 130 basis points from the previous quarter and 120 basis points from the same quarter last year.
Wipro generated an operating cash flow of ₹3,288 crore, which was 98% of its net income.
Company Gives Next Quarter Outlook
Wipro said its voluntary attrition rate over the last 12 months stood at 13.9%.
For the July-September quarter, the company expects its IT services revenue to be between $2.57 billion and $2.63 billion.
Wipro Shares in Focus
Wipro announced its quarterly results after market hours, so investors will closely watch the stock when trading resumes on Friday.
On Thursday, Wipro shares closed 1.83% higher at ₹177.80. The stock is currently recovering from its 52-week low of ₹168, while its 52-week high stands at ₹273.15, touched in December last year.
