Wipro Shares Climb Close To 10% After Reporting Decade's Best Q4 Result

Wipro shares in early trade on April 16, 2021 gained close to 10% after its q4FY21 earnings. The results of the IT major have been decade's best with net profit soaring 27 percent.

Wipro Shares Climb Close To 10% After Reporting Decade's Best Q4 Result

The company's revenue surged 3.4 percent to Rs. 16245crore in the March ended quarter as against Rs. 15711 in the same quarter last year. The company expects a sequential growth of 2-4 percent.

Revenue from IT services were at USD 2152.4 million, a sequential growth of 3.9 percent.

"Our Q4 performance was built on top of our momentum that we saw in the last quarter. We have reported a solid growth in revenue, healthy order booking and great execution, resulting in robust margins."This truly sets the stage for the next quarter and the next financial year," Wipro CEO and Managing Director Thierry Delaporte told reporters.

Revenue of 3.9 per cent in reported terms and 3 per cent in constant currency terms is at the top quartile of its guidance range, he added.

"This is the best fourth quarter results we have reported in the last 10 years. This was truly led by a very good volume growth."Despite the steep decline in the first quarter of the fiscal year because of the pandemic, we now bounced back to finish the year with only a marginal decline of 1.4 per cent y-o-y," Delaporte said.

"We have guided for revenue growth of 2-4 per cent outside of Capco and Ampion. This would translate into a year-on-year double digit growth of 11-13 per cent. This guidance reflects the environment we are operating in, our increased focus on the market and our improved execution rigour," he said.

The growth has been attributed to increased activity in the market which has been well capitalized by the firm and even to the large deal wins.

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