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View All NewsWipro revenue rises 3.4% in fiscal fourth quarter; key markets growing
IT consulting and business process outsourcing firm Wipro Ltd. (NYSE: WIT) reported revenue rose 3.4% in its fiscal fourth quarter ended March 31. Profit for the period also increased.
CEO and Managing Director Thierry Delaporte said all Wipro’s key markets are now growing on a year-over-year basis.
(Indian rupees millions) | Quarter ended March 31, 2021 | Quarter ended March 31, 2020 | % change | Quarter ended March 31, 2021 (US$ millions) |
Revenue | 162,454 | 157,110 | 3.4% | $2,221 |
Gross profit | 52,649 | 42,977 | 22.5% | $720 |
Gross margin percentage | 32.4% | 27.4% | ||
Profit for the period | 29,741 | 23,451 | 27.8% | $407 |
“I am delighted with the way we have finished the financial year,” Delaporte said. “We delivered a third consistent quarter of strong revenue growth, deal wins and operating margins. We also announced our largest ever acquisition of Capco that will bolster our global financial services sector.”
Full-year results
(Indian rupees millions) | Year ended March 31, 2021 | Year ended March 31, 2020 | % change | Year ended March 31, 2021 (US$ millions) |
Revenue | 619,430 | 610,232 | 1.5% | $8,469 |
Gross profit | 196,225 | 174,147 | 12.7% | $2,683 |
Gross margin percentage | 31.7% | 28.5% | ||
Profit for the period | 108,662 | 97,713 | 11.0% | $1,486 |
Guidance
Wipro reported it expects revenue in its fiscal first quarter ending June 30 to be in the range of $2.20 billion to $2.24 billion, representing a year-over-year increase of 2.0% to 4.0%. The forecast does not include revenue from the company’s recently announced acquisitions of Capco and Ampion, an Australia-based provider of cyber security, DevOps and quality engineering services.
Share price and market cap
Wipro’s shares on the New York Stock Exchange set a new 52-week high today when they reached $7.08; over the period, the share price rose 129.87%, according to FT.com. The company had a market cap of $31.33 billion.