WIPRO Announces Quarterly Results (2QFY21); Net Profit Down 3.0%

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WIPRO Announces Quarterly Results (2QFY21); Net Profit Down 3.0%
Wed, 14 Oct

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

WIPRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m151,306149,131150,9671.2%-0.2%
Other incomeRs m7,4486,4865,547-14.5%-25.5%
TurnoverRs m158,754155,617156,5140.6%-1.4%
ExpensesRs m120,348117,341116,590-0.6%-3.1%
Gross profitRs m30,95831,88734,3777.8%11.0%
DepreciationRs m4,8126,1526,5786.9%36.7%
InterestRs m2,2471,2991,267-2.5%-43.6%
Profit before taxRs m31,34730,92232,0793.7%2.3%
TaxRs m5,7326,8387,2295.7%26.1%
Profit after taxRs m25,61524,08424,8503.2%-3.0%
Gross profit margin%20.521.422.8
Effective tax rate%18.322.122.5
Net profit margin%16.115.515.9
* 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 fell 0.2% on a year-on-year (YoY) basis. The expenses were down by 3.1% YoY during the same period.
  • The company's operating profit increased by 11.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.8% in 2QFY21 as against 20.5% in 2QFY20.
  • Depreciation charges increased by 36.7% and finance costs declined by 43.6% YoY, respectively.
  • Other income declined by 25.5% YoY during the quarter.
  • Net profit for the quarter declined by 3.0% YoY. Net profit margins during the quarter declined from 16.1% in 2QFY20 to 15.9% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.6% QoQ during the same period.
  • The company's operating profit increased by 7.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.8% in 2QFY21 as against 21.4% in 1QFY20.
  • Net profit for the quarter increased by 3.2% QoQ, while net profit margins increased from 15.5% in 1QFY20 to 15.9% in 2QFY21.

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 243.4 to Rs 375.8, registering a Gain of Rs 132.4 or around 54.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 22,660.1 (up 1.5%). Over the last one year it has moved up from 15,326.3 to 22,660.1, a gain of 7,334 points (up 47.9%).

Overall, the S&P BSE SENSEX is up 6.3% over the year.

Current Valuations

At the current price of Rs 375.8, the price to earnings (P/E) ratio of WIPRO stands at 17.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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