WIPRO Announces Quarterly Results (1QFY19); Net Profit Up 0.8%

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WIPRO Announces Quarterly Results (1QFY19); Net Profit Up 0.8%
Thu, 26 Jul

WIPRO has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

WIPRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m136,261137,686139,7771.5%2.6%
Other incomeRs m6,5535,3608,49758.5%29.7%
TurnoverRs m142,814143,046148,2743.7%3.8%
ExpensesRs m109,578113,156115,4342.0%5.3%
Gross profitRs m26,68324,52724,343-0.8%-8.8%
DepreciationRs m4,9415,7004,335-23.9%-12.3%
InterestRs m1,4741,5641,6495.4%11.9%
Profit before taxRs m26,82122,62326,85618.7%0.1%
TaxRs m5,9944,6155,86527.1%-2.2%
Profit after taxRs m20,82718,00820,99116.6%0.8%
Gross profit margin%19.617.817.4
Effective tax rate%22.320.421.8
Net profit margin%14.612.614.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 2.6% on a year-on-year (YoY) basis. The expenses were up by 5.3% YoY during the same period.
  • The company's operating profit declined by 8.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.4% in 1QFY19 as against 19.6% in 1QFY18.
  • Depreciation charges and finance costs declined by 12.3% YoY and 11.9% YoY, respectively.
  • Other income increased by 29.7% YoY during the quarter.
  • Net profit for the quarter increased by 0.8% YoY. Net profit margins during the quarter declined from 14.6% in 1QFY18 to 14.2% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.0% QoQ during the same period.
  • The company's operating profit declined by 0.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.4% in 1QFY19 as against 17.8% in 4QFY18.
  • Net profit for the quarter increased by 16.6% QoQ, while net profit margins increased from 12.6% in 4QFY18 to 14.2% in 1QFY19.

To see how WIPRO has performed over the last eight quarters, please visit here.

WIPRO Share Price Performance

Over the last one year, WIPRO share price has moved up from Rs 290.0 to Rs 272.9, registering a Loss of Rs 17.1 or around 5.9%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,596.6 (down 0.2%). Over the last one year it has moved up from 10,437.2 to 14,596.6, a gain of 4,159 points (up 39.9%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 272.9, the price to earnings (P/E) ratio of WIPRO stands at 16.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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