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WIPRO Announces Quarterly Results (4QFY18); Net Profit Down 20.6%

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WIPRO Announces Quarterly Results (4QFY18); Net Profit Down 20.6%
Thu, 19 Jul

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

WIPRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m144,702136,690137,6860.7%-4.8%
Other incomeRs m5,6366,2595,360-14.4%-4.9%
TurnoverRs m150,338142,949143,0460.1%-4.9%
ExpensesRs m111,694111,820113,1561.2%1.3%
Gross profitRs m33,00824,88024,527-1.4%-25.7%
DepreciationRs m8,1795,2785,7008.0%-30.3%
InterestRs m1,0531,2051,56429.8%48.5%
Profit before taxRs m29,41224,65622,623-8.2%-23.1%
TaxRs m6,7425,3554,615-13.8%-31.5%
Profit after taxRs m22,67019,30118,008-6.7%-20.6%
Gross profit margin%22.818.217.8
Effective tax rate%22.921.720.4
Net profit margin%15.113.512.6
* 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 4.8% on a year-on-year (YoY) basis. The expenses were up by 1.3% YoY during the same period.
  • The company's operating profit declined by 25.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.8% in 4QFY18 as against 22.8% in 4QFY17.
  • Depreciation charges and finance costs declined by 30.3% YoY and 48.5% YoY, respectively.
  • Other income declined by 4.9% YoY during the quarter.
  • Net profit for the quarter declined by 20.6% YoY. Net profit margins during the quarter declined from 15.1% in 4QFY17 to 12.6% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.2% QoQ during the same period.
  • The company's operating profit declined by 1.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.8% in 4QFY18 as against 18.2% in 3QFY17.
  • Net profit for the quarter declined by 6.7% QoQ, while net profit margins declined from 13.5% in 3QFY17 to 12.6% in 4QFY18.

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 271.3 to Rs 287.1, registering a Gain of Rs 15.9 or around 5.8%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,355.4 (down 0.8%). Over the last one year it has moved up from 10,237.6 to 14,355.4, a gain of 4,117.8 points (up 40.2%).

Overall, the S&P BSE SENSEX is down 0.1% over the year.

Current Valuations

At the current price of Rs 287.1, the price to earnings (P/E) ratio of WIPRO stands at 17.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.9 times.

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