Wipro's IT services segment revenue stood at $2,152.4 million in Q4 FY21, an increase of 3.9% QoQ and 3.8% YoY. The company's non-GAAP constant currency IT services segment revenue increased by 3% QoQ and 0.5% YoY. The company said its IT services operating margin grew by 344 basis points year on year to 21% in Q4 FY21.
Wipro expects revenue from its IT services business to be in the range of $2,195 million to $2,238 million for the quarter ending 30 June 2021. This translates to a sequential growth of 2% to 4%.
The IT major reported 11.05% rise in consolidated net profit to Rs 10,796.40 crore on a 1.51% rise in revenues to Rs 61,943 crore in the year ended on 31 March 2021 over the year ended on 31 March 2020
Commenting on the result, Thierry Delaporte, CEO and MD said, I am delighted with the way we have finished the financial year. 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. We are excited with this wave of business momentum that we are witnessing. All key markets are now growing on YoY basis and this provides us a solid foundation to build on next year growth rates.
Jatin Dalal, chief financial officer of Wipro said, “We delivered a 340 bps expansion YoY in operating margins for the quarter after absorbing the impact of wage hike. On a full year basis we increased margins by 220 bps with a consistent improvement in operating metrics. Led by disciplined execution, we generated strong operating cash flows at 136.7% of our net income for the full year. We successfully completed the share buyback program returning $1.3Bn to our shareholders.”
The company added 52 new customers in the quarter ending 31 March 2021. The IT major's attrition rate (on TTM basis) stood at 12.1% in Q4 FY21 as against 11% in Q3 FY21 and 14.7% in Q4 FY20.
Wipro is a global information technology, consulting and business process services company.
Shares of Wipro rose 2.95% at Rs 431 on Thursday.
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