WIPRO Announces Quarterly Results (1QFY21); Net Profit Up 0.2%

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WIPRO Announces Quarterly Results (1QFY21); Net Profit Up 0.2%
Thu, 16 Jul

WIPRO has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

WIPRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m147,860157,110149,131-5.1%0.9%
Other incomeRs m7,8065,9006,4869.9%-16.9%
TurnoverRs m155,666163,010155,617-4.5%0.0%
ExpensesRs m118,391126,311117,341-7.1%-0.9%
Gross profitRs m29,46931,19431,8872.2%8.2%
DepreciationRs m4,9535,7966,1526.1%24.2%
InterestRs m1,5841,6531,299-21.4%-18.0%
Profit before taxRs m30,73829,64530,9224.3%0.6%
TaxRs m6,6996,2066,83810.2%2.1%
Profit after taxRs m24,03923,43924,0842.8%0.2%
Gross profit margin%19.919.921.4
Effective tax rate%21.820.922.1
Net profit margin%15.414.415.5
* 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 0.9% on a year-on-year (YoY) basis. The expenses were down by 0.9% YoY during the same period.
  • The company's operating profit increased by 8.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.4% in 1QFY21 as against 19.9% in 1QFY20.
  • Depreciation charges increased by 24.2% and finance costs declined by 18.0% YoY, respectively.
  • Other income declined by 16.9% YoY during the quarter.
  • Net profit for the quarter increased by 0.2% YoY. Net profit margins during the quarter increased from 15.4% in 1QFY20 to 15.5% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.1% QoQ during the same period.
  • The company's operating profit increased by 2.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.4% in 1QFY21 as against 19.9% in 4QFY20.
  • Net profit for the quarter increased by 2.8% QoQ, while net profit margins increased from 14.4% in 4QFY20 to 15.5% in 1QFY21.

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

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WIPRO Share Price Performance

Over the last one year,WIPRO share price has moved up from Rs 260.1 to Rs 263.8, registering a Gain of Rs 3.8 or around 1.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 17,458.1 (up 5.7%). Over the last one year it has moved up from 15,576.1 to 17,458.1, a gain of 1,882 points (up 12.1%).

Overall, the S&P BSE SENSEX is down 7.0% over the year.

Current Valuations

At the current price of Rs 263.8, the price to earnings (P/E) ratio of WIPRO stands at 12.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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