Wipro Quarterly Report
Wipro Limited is an Indian multinational corporation that provides information technology, consulting and business process services. The Fortune India 500 ranks it the 29th largest Indian company by total revenue. It is also ranked the 9th largest employer in India with over 200,000 employees. Highlights of the Results for the Quarter ended September 30, 2021: • Gross Revenue was ₹19,670 crores, an increase of 7.8% QoQ and 30.1% YoY • Non-GAAP constant currency IT Services Segment Revenue increased by 8.1% QoQ and 28.8% YoY. • IT Services Operating Margin for the quarter was at 17.8%, flat on adjusted basis QoQ and reported decrease of 104 bps QoQ. • Net Income for the quarter was ₹2,930 crores, an increase of 18.9% YoY • Earnings Per Share for the quarter was at ₹5.36, an increase of 23.8% YoY. • Growth well ahead of the top-end of our guidance range of 7%. • Operating cash flow to Net income for Q2 FY 22 was at 81.5%. • Growth well ahead of the top-end of our guidance range of 7%. • Onboarded ~8,150 freshers in Q2 FY 22. Outlook for quarter ending December 31, 2021 QoQ growth 2.0% to 4.0%. The quarter has been quiet on deal announcements. CSR Activities for Wipro: EDUCATION: Promoting education, including special education and inclusive education for children with disability, and skill development and livelihood enhancement projects. DISASTER RELIEF AND REHABILITATION: Engaging with communities affected by natural disasters for relief and long-term rehabilitation to strengthen their resilience, e.g. intervention in livelihoods, access to education. COMMUNITY HEALTH CARE: Engaging with the community to promote health care including preventive health care, safe drinking water and sanitation. BUSINESS SUSTAINABILITY: Reducing and minimizing the environmental footprint of our operations and enhancing the biodiversity quotient of our facilities. ECOLOGY: Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water. Comments on results: Wipro said that it has surpassed ₹75,300 crore annualised revenue run rate and is in position to hire 25,000 people in the next financial year. Consolidated revenue grew 30% to ₹19,667 crore as compared to ₹15,114 crores in the year-ago quarter. Wipro reported consolidated net profit of ₹2,931 crores for the quarter ended September, 2021 (Q2FY22). This is a rise of 19% from ₹2,466 crore posted in the same period last year (Q2FY21).
