WIPRO Announces Quarterly Results (4QFY20); Net Profit Down 6.1%

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WIPRO Announces Quarterly Results (4QFY20); Net Profit Down 6.1%
Thu, 16 Apr

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

WIPRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m151,609154,705157,1101.6%3.6%
Other incomeRs m7,5446,0975,900-3.2%-21.8%
TurnoverRs m159,153160,802163,0101.4%2.4%
ExpensesRs m119,010122,904126,3112.8%6.1%
Gross profitRs m32,59931,80131,194-1.9%-4.3%
DepreciationRs m5,5935,2945,7969.5%3.6%
InterestRs m2,5301,8441,653-10.4%-34.7%
Profit before taxRs m32,02030,76029,645-3.6%-7.4%
TaxRs m7,0646,1646,2060.7%-12.1%
Profit after taxRs m24,95624,59623,439-4.7%-6.1%
Gross profit margin%21.520.619.9
Effective tax rate%22.120.020.9
Net profit margin%15.715.314.4
* 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 3.6% on a year-on-year (YoY) basis. The expenses were up by 6.1% YoY during the same period.
  • The company's operating profit declined by 4.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.9% in 4QFY20 as against 21.5% in 4QFY19.
  • Depreciation charges increased by 3.6% and finance costs declined by 34.7% YoY, respectively.
  • Other income declined by 21.8% YoY during the quarter.
  • Net profit for the quarter declined by 6.1% YoY. Net profit margins during the quarter declined from 15.7% in 4QFY19 to 14.4% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.8% QoQ during the same period.
  • The company's operating profit declined by 1.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.9% in 4QFY20 as against 20.6% in 3QFY19.
  • Net profit for the quarter declined by 4.7% QoQ, while net profit margins declined from 15.3% in 3QFY19 to 14.4% in 4QFY20.

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 down from Rs 281.1 to Rs 187.5, registering a Loss of Rs 93.6 or around 33.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 12,541.4 (down 1.3%). Over the last one year it has moved down from 15,590.8 to 12,541.4, a loss of 3,049 points (down 19.6%).

Overall, the S&P BSE SENSEX is down 21.2% over the year.

Current Valuations

At the current price of Rs 187.5, the price to earnings (P/E) ratio of WIPRO stands at 8.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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