WIPRO Announces Quarterly Results (3QFY20); Net Profit Down 3.3%

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WIPRO Announces Quarterly Results (3QFY20); Net Profit Down 3.3%
Wed, 15 Jan

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

WIPRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m150,595151,306154,7052.2%2.7%
Other incomeRs m6,2737,4486,097-18.1%-2.8%
TurnoverRs m156,868158,754160,8021.3%2.5%
ExpensesRs m117,665120,348122,9042.1%4.5%
Gross profitRs m32,93030,95831,8012.7%-3.4%
DepreciationRs m5,1714,8125,29410.0%2.4%
InterestRs m1,6272,2471,844-17.9%13.3%
Profit before taxRs m32,40531,34730,760-1.9%-5.1%
TaxRs m6,9675,7326,1647.5%-11.5%
Profit after taxRs m25,43825,61524,596-4.0%-3.3%
Gross profit margin%21.920.520.6
Effective tax rate%21.518.320.0
Net profit margin%16.216.115.3
* 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 2.7% on a year-on-year (YoY) basis. The expenses were up by 4.5% YoY during the same period.
  • The company's operating profit declined by 3.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.6% in 3QFY20 as against 21.9% in 3QFY19.
  • Depreciation charges increased by 2.4% and finance costs increased by 13.3% YoY, respectively.
  • Other income declined by 2.8% YoY during the quarter.
  • Net profit for the quarter declined by 3.3% YoY. Net profit margins during the quarter declined from 16.2% in 3QFY19 to 15.3% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.1% QoQ during the same period.
  • The company's operating profit increased by 2.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.6% in 3QFY20 as against 20.5% in 2QFY19.
  • Net profit for the quarter declined by 4.0% QoQ, while net profit margins declined from 16.1% in 2QFY19 to 15.3% in 3QFY20.

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 248.2 to Rs 255.0, registering a Gain of Rs 6.8 or around 2.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 16,187.7 (up 0.1%). Over the last one year it has moved up from 14,484.8 to 16,187.7, a gain of 1,703 points (up 11.8%).

Overall, the S&P BSE SENSEX is up 17.0% over the year.

Current Valuations

At the current price of Rs 255.0, the price to earnings (P/E) ratio of WIPRO stands at 11.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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