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Wipro revenue rises 3.4% in fiscal fourth quarter; key markets growing

April 16, 2021

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.