Leading IT services leader Wipro on Wednesday reported flat consolidated net income of Rs 2,969 crore (attributable to shareholders) for the quarter ending December 31, 2021 (T3FY22). The company had posted a net profit of Rs 2,968 crore during the period last year.
On a sequential basis, its net profit rose 1.3%, he added.
Its operating income rose 29.6% to Rs 20,313.6 crore, from Rs 15,670 crore in the quarter ended December 2020. Of this figure, IT services segment revenue rose amounted to $ 2,639.7 million, an increase of 2.3% QoQ and 27.5% YoY.
In addition, the board of directors of the company also declared an interim dividend of Rs 1 / – (USD 0.01) per share and ADR (50% of a share with a par value of Rs 2 / -) Wipro said in a regulatory filing.
With respect to the outlook for the quarter ending March 31, 2022, Wipro expects revenue from the IT services activities to be in the range of $ 2,692 million to $ 2,745 million. This translates into sequential growth of 2.0% to 4.0%.
The company’s IT operating margin was 17.6% compared to 21.7% a year ago. He said he has added 7 new clients to the league with revenues of over $ 100 million in the past 12 months.
Thierry Delaporte, CEO and Managing Director, said: “Wipro achieved a fifth consecutive quarter of strong performance, both in terms of revenues and margins. Order bookings have also been significant and we have added seven new customers in the league with revenues of over $ 100 million in the past 12 months. “
He also added, “Our strategy and improved execution continue to serve us well, and we are confident that we will continue to do so. We are also delighted to have completed the acquisitions of Edgile and LeanSwift Solutions during the quarter, which will significantly boost our capabilities.
In addition, Jatin Dalal, Chief Financial Officer, said: “We have delivered strong operating margins after absorbing substantial investments in salary increases, thanks to the continuous improvement of operating parameters. We have also improved our working capital, reducing our Days of Work. This resulted in a strong conversion of operating cash flow of 101.3% of net income.
In addition, Wipro also added that the employee strength for IT services was 231,671 in the December quarter, an increase of 41,363 employees on a net year-over-year basis. “We added 10,306 employees during the quarter,” he added.
The company’s BSE certificate on Wednesday closed down 0.40% at Rs 691.35 each. Results were reported after market hours.