WIPRO Announces Quarterly Results (1QFY20); Net Profit Up 14.5%

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WIPRO Announces Quarterly Results (1QFY20); Net Profit Up 14.5%
Thu, 18 Jul

WIPRO has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

WIPRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m139,777151,609147,860-2.5%5.8%
Other incomeRs m8,4977,5447,8063.5%-8.1%
TurnoverRs m148,274159,153155,666-2.2%5.0%
ExpensesRs m115,434119,010118,391-0.5%2.6%
Gross profitRs m24,34332,59929,469-9.6%21.1%
DepreciationRs m4,3355,5934,953-11.4%14.3%
InterestRs m1,6492,5301,584-37.4%-3.9%
Profit before taxRs m26,85632,02030,738-4.0%14.5%
TaxRs m5,8657,0646,699-5.2%14.2%
Profit after taxRs m20,99124,95624,039-3.7%14.5%
Gross profit margin%17.421.519.9
Effective tax rate%21.822.121.8
Net profit margin%14.215.715.4
* 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 5.8% on a year-on-year (YoY) basis. The expenses were up by 2.6% YoY during the same period.
  • The company's operating profit increased by 21.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.9% in 1QFY20 as against 17.4% in 1QFY19.
  • Depreciation charges increased by 14.3% and finance costs declined by 3.9% YoY, respectively.
  • Other income declined by 8.1% YoY during the quarter.
  • Net profit for the quarter increased by 14.5% YoY. Net profit margins during the quarter increased from 14.2% in 1QFY19 to 15.4% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.5% QoQ during the same period.
  • The company's operating profit declined by 9.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.9% in 1QFY20 as against 21.5% in 4QFY19.
  • Net profit for the quarter declined by 3.7% QoQ, while net profit margins declined from 15.7% in 4QFY19 to 15.4% in 1QFY20.

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 213.1 to Rs 264.6, registering a Gain of Rs 51.5 or around 24.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,585.8 (down 0.8%). Over the last one year it has moved up from 14,470.3 to 15,585.8, a gain of 1,115 points (up 7.7%).

Overall, the S&P BSE SENSEX is up 7.2% over the year.

Current Valuations

At the current price of Rs 264.6, the price to earnings (P/E) ratio of WIPRO stands at 12.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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