Wipro Q1 Results Analysis (Best ever). Technical Analysis of Wipro Latest News

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0:02 Introduction about the company
In this video we will learn about Wipro Q1 Results Analysis (Best ever). Technical Analysis of Wipro Latest News
IT services firm Wipro on July 15 reported consolidated net profit of Rs 3,242.6 crore for the Q1FY22, up 35.7 percent year-on-year (YoY) and 9 percent quarter-on-quarter (QoQ).

The company had reported a net profit of Rs 2,390.4 crore in Q1FY21 and Rs 2,972.3 crore in Q4FY21.

Revenue for the quarter under review came in at Rs 18,252.4 crore, up 22 percent against Rs 14,913.1 crore in the year-ago period.

IT services segment revenue stood at $2,414.5 million, up 12.2 percent quarter-on-quarter (QoQ) and 25.7 percent year-on-year (YoY).

IT services operating margin for the quarter was at 18.8 percent, a decrease of 29 bps YoY while net income for the quarter was Rs 3,230 crore, an increase of 35.2 percent YoY.

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The company's IT services workforce crossed the milestone of 2,00,000, closing headcount at 2,09,890.

"Wipro signed an agreement to acquire Ampion on April 1, 2021, and we previously announced that it will be closed during Q1FY22. However, certain regulatory approvals are still pending and the transaction is now expected to be closed in Q2FY22, said the company.

Wipro expects revenue from its IT services business to be in the range of $2,535 million to $2,583 million. This translates to a sequential growth of 5 percent to 7 percent, it said.

“Despite the severe onslaught of the pandemic, we delivered our best-ever quarter, with secular growth across all SMUs, sectors and GBLs. Our sequential revenue growth of 12.2 percent was well ahead of the top-end of our guidance range, both organically and with Capco," said Thierry Delaporte, CEO and Managing Director, Wipro.

"We remain focused on deepening our customer relationships, investing in talent and capabilities for the future, and winning market share."

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