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View All NewsIndia – Wipro revenue rises 3.4% in fiscal fourth quarter; key markets growing
India-based 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.
| (INR millions) | Quarter ended March 31, 2021 | Quarter ended March 31, 2020 | % change | Quarter ended March 31, 2021 (USD 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% | $407 |
“I am delighted with the way we have finished the financial year,” Delaporte said. “We delivered a third consistent quarter of strong revenue growth, deal wins and operating margins. We also announced our largest ever acquisition of Capco that will bolster our global financial services sector.”
The company also reported full year results.
Full-year results
| (Indian rupees millions) | Year ended March 31, 2021 | Year ended March 31, 2020 | % change | Year ended March 31, 2021 (US$ 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 |
Looking ahead, 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.
Wipro shares closed at INR 6.96, up 6.09% on the day. The company has a market cap of INR 38.13 billion.