Wipro Q4 results: consolidated profit at Rs 2,345 crores
Wipro Q4 results: It is an Indian multinational company in India located in Bangalore. Whereas, the company provides services in Information Technology, Consulting, and Business Process Services in India.
However, the IT major on Wednesday reported its Q4 results that ended in March. The company posted its consolidated net profit of Rs 2,345.20 crores with a 6% Year-on-Year downfall ended in March 2020. The company also posted its consolidated net profit of Rs 2,493.90 crores in the same quarter last financial year.
Meanwhile, some of the sources expected a net profit of Rs 2,356 crore for the Q4 quarter. Whereas, the companies total revenue growth from the operations stands at Rs 15,711 crore with an almost 4.7% increase for Year-on-Year (YoY). The company also posted its revenue growth in the last fiscal year stands at Rs 15,006 crores.
Besides, the companies operating margin for the quarter ended in March reported at 17.6%. Whereas, the operating margin of the company reported a 0.8% downfall on quarter-on-quarter (QoQ).
According to the reports, the revenue of the IT companies for this quarter ended in March was negatively impacted by COVID-19. We also expect the overall loss of the IT companies this quarter is almost $14- $16 million. Whereas, the IT service revenue stands at $2.07 billion with 1% down in currency terms.
However, the company board members didn’t finalize the companies interim dividend for the quarter. The company CEO and Managing Director Abidali Neemuchwala said: “We are confident in our services and ability to fulfill all our commitments stand strong in the market.”
On the other side, the IT major TCS Limited will report its Q4 results on April 16th. Whereas, TCS Limited on Thursday reported a bearish trend in the stock market. The company lost 21.35 points with a 1.17% decrease and reached 1,715.20 INR. While in BSE, the company lost 20.20 points with a 1.16% decrease and reached 1,715.00 INR.
Whereas, Wipro Limited on Thursday reported a bearish trend in the stock market. The company lost 0.60 points with a 0.32% decrease and reached 185.90 INR. While in BSE, the company lost 0.45 points with a 0.24% decrease and reached 186.10 INR.
The early trend of both Sensex and Nifty continues its bearish trend in the stock market on Thursday. But after some time both Sensex and Nifty back to the bullish trend in the stock market. The Sensex gained 113.09 points with a 0.37% increase and reached a 30,495.70 level. While Nifty gained 47.45 points with a 0.53% increase and reached 8,964.75 level.
On the other side, the number of coronavirus cases in India reached 12,380 as of Wednesday, April 16 and deaths reached 414.
In the border market, the S&P BSE Midcap index reported a bullish trend in the stock market on Thursday. It gained 78.85 points with a 0.63% increase and reached an 11,487.93 level. The S&P BSE Smallcap index gained 93.46 points with a 0.92% increase and reached a 10,460.24 level. While Nifty Bank gained 131.20 with a 0.69% increase and reached 19,106.65 level.
Top Gainers on April 16: Vedanta, Larsen, UPL, Hindalco, and IndusInd Bank are the top gainers in the stock market.
Top Losers on April 16: Tech Mahindra, HCL Tech, Hero Motocorp, Infosys, and TCS are the top losers in the stock market.