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WIPRO Announces Quarterly Results (3QFY19); Net Profit Up 31.8%

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WIPRO Announces Quarterly Results (3QFY19); Net Profit Up 31.8%
Mon, 21 Jan

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

WIPRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m136,690145,410150,5953.6%10.2%
Other incomeRs m6,2596,6226,273-5.3%0.2%
TurnoverRs m142,949152,032156,8683.2%9.7%
ExpensesRs m111,820121,911117,665-3.5%5.2%
Gross profitRs m24,88023,49932,93040.1%32.4%
DepreciationRs m5,2784,3685,17118.4%-2.0%
InterestRs m1,2051,5691,6273.7%35.0%
Profit before taxRs m24,65624,18432,40534.0%31.4%
TaxRs m5,3555,3476,96730.3%30.1%
Profit after taxRs m19,30118,83725,43835.0%31.8%
Gross profit margin%18.216.221.9
Effective tax rate%21.722.121.5
Net profit margin%13.512.416.2
* 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 10.2% on a year-on-year (YoY) basis. The expenses were up by 5.2% YoY during the same period.
  • The company's operating profit increased by 32.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.9% in 3QFY19 as against 18.2% in 3QFY18.
  • Depreciation charges declined by 2.0% and finance costs increased by 35.0% YoY, respectively.
  • Other income increased by 0.2% YoY during the quarter.
  • Net profit for the quarter increased by 31.8% YoY. Net profit margins during the quarter increased from 13.5% in 3QFY18 to 16.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.5% QoQ during the same period.
  • The company's operating profit increased by 40.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.9% in 3QFY19 as against 16.2% in 2QFY18.
  • Net profit for the quarter increased by 35.0% QoQ, while net profit margins increased from 12.4% in 2QFY18 to 16.2% in 3QFY19.

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 328.5 to Rs 336.7, registering a Gain of Rs 8.2 or around 2.5%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,799.2 (up 0.9%). Over the last one year it has moved up from 12,243.7 to 14,799.2, a gain of 2,556 points (up 20.9%).

Overall, the S&P BSE SENSEX is up 3.8% over the year.

Current Valuations

At the current price of Rs 336.7, the price to earnings (P/E) ratio of WIPRO stands at 19.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.

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