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Wipro: A Flat Performance - Views on News from Equitymaster
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Wipro: A Flat Performance
Nov 8, 2016

Wipro has announced its results for the second quarter of FY17. The company has reported a 1.5% QoQ increase in sales while the net profit was up 0.9% QoQ.

Performance summary
  • Consolidated sales increased by 1.5% QoQ during the quarter. IT services revenues were up 0.2% QoQ in rupee terms, 0.9% QoQ in constant currency terms but down 0.8% QoQ in US dollar terms.
  • The operating margin was down sequentially to 20.1%. On an absolute basis, the operating profit increased by 1.2% QoQ.
  • The net profit was up sequentially by 0.9% QoQ. The net margin came in at 14.9%

    Consolidated financial performance
    (Rs m) 1QFY17 2QFY17 Change 1HFY16 1HFY17 Change
    Gross revenues 136,976 138,968 1.5% 249,374 275,944 10.7%
    Expenditure 109,465 111,117 1.5% 194,247 220,582 13.6%
    Operating profit 27,511 27,851 1.2% 55,127 55,362 0.4%
    Operating profit margin (%) 20.1% 20.0% 22.1% 20.1%
    Other income 5,200 5,105 -1.8% 11,653 10,305 -11.6%
    Finance expenses 1,336 1,428 6.9% 2,875 2,764 -3.9%
    Depreciation 4,664 4,847 3.9% 6,894 9,511 38.0%
    Profit before tax 26,711 26,681 -0.1% 57,011 53,392 -6.3%
    Tax 6,121 5,910 -3.4% 12,473 12,031 -3.5%
    Profit after tax 20,590 20,771 0.9% 44,538 41,361 -7.1%
    Minority interest 71 67 -5.6% 210 138 -34.3%
    Net profit 20,519 20,704 0.9% 44,328 41,223 -7.0%
    Net profit margin (%) 15.0% 14.9% 17.8% 14.9%
    No. of shares (m) 2,430.8
    Diluted earnings per share (Rs)* 35.3
    P/E ratio (x)* 12.8

    * On a Trailing 12-months basis

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