WIPRO Announces Quarterly Results (2QFY19); Net Profit Down 14.0%

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WIPRO Announces Quarterly Results (2QFY19); Net Profit Down 14.0%
Fri, 9 Nov

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

WIPRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m134,234139,777145,4104.0%8.3%
Other incomeRs m7,1148,4976,622-22.1%-6.9%
TurnoverRs m141,348148,274152,0322.5%7.6%
ExpensesRs m106,446115,434121,9115.6%14.5%
Gross profitRs m27,79324,34323,499-3.5%-15.4%
DepreciationRs m5,1984,3354,3680.8%-16.0%
InterestRs m1,3861,6491,569-4.9%13.2%
Profit before taxRs m28,32326,85624,184-9.9%-14.6%
TaxRs m6,4275,8655,347-8.8%-16.8%
Profit after taxRs m21,89620,99118,837-10.3%-14.0%
Gross profit margin%20.717.416.2
Effective tax rate%22.721.822.1
Net profit margin%15.514.212.4
* 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 8.3% on a year-on-year (YoY) basis. The expenses were up by 14.5% YoY during the same period.
  • The company's operating profit declined by 15.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.2% in 2QFY19 as against 20.7% in 2QFY18.
  • Depreciation charges declined by 16.0% and finance costs increased by 13.2% YoY, respectively.
  • Other income declined by 6.9% YoY during the quarter.
  • Net profit for the quarter declined by 14.0% YoY. Net profit margins during the quarter declined from 15.5% in 2QFY18 to 12.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.6% QoQ during the same period.
  • The company's operating profit declined by 3.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.2% in 2QFY19 as against 17.4% in 1QFY18.
  • Net profit for the quarter declined by 10.3% QoQ, while net profit margins declined from 14.2% in 1QFY18 to 12.4% in 2QFY19.

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 302.6 to Rs 321.9, registering a Gain of Rs 19.3 or around 6.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,167.6 (down 1.4%). Over the last one year it has moved up from 10,756.5 to 14,167.6, a gain of 3,411 points (up 31.7%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 321.9, the price to earnings (P/E) ratio of WIPRO stands at 20.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.3 times.

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