Wipro Q4Results Revenues2&3 in Constant Currency grew by 3.9% for the year EPS for the year grew at 11.2% YOY

Wipro Q4Results  IFRS IT Services Revenues2&3 in Constant Currency grew by 3.9% for the year EPS for the year grew at 11.2% YOY

 

Highlights of the Results

Results for the Year ended March 31, 2020:

 Gross Revenue was 610.2 billion ($8.1 billion ), an increase of 4.2% YoY
 IT Services Segment Revenue was at $8,256.2 million, grew at 1.7% YoY
 Non-GAAP2&3 constant currency IT Services Segment Revenue increased by 3.9% YoY
 IT Services Operating Margin4 for the year was at 18.1%, an expansion of 0.2% YoY
 Net Income for the year was ₹97.2 billion ($1.3 billion), an increase of 8.0% YoY
 EPS for the year was ₹16.67 ($0.221 ) per share and grew 11.2% YoY

Results for the Quarter ended March 31, 2020:

 Gross Revenue was ₹157.1 billion ($2.1 billion ), an increase of 4.7% YoY
 IT Services Segment Revenue was at $2,073.7 million, a decrease of 1.0% QoQ
 Non-GAAP3 constant currency IT Services Segment Revenue increased by 0.4%QoQ
 IT Services Operating Margin4 for the quarter was at 17.6%, a decrease of 0.8% QoQ
 Net Income for the quarter was ₹23.3 billion ($308.5 million ), a decrease of 6.3% YoY
 EPS for the quarter was ₹4.09 ($0.05 ) per share, a decrease of 1.1% YoY
 The Board has not recommended any final dividend. The interim dividend of ₹1 declared by the

Board at its meeting held on January 14, 2020 shall be considered as the final dividend for the financial year 2019-20. Thus, the total dividend for the financial year 2019-20 remains ₹1 per equity share

IT Services

Wipro continued its momentum in winning deals globally as described below:

 Wipro has won a multi-year engagement in Mexico with one of the world’s largest Spanish language media companies to redefine their workplace experience. This engagement enables their digital strategy to deliver enhanced user experience and move to a flexible and secure model leveraging VirtuaDesk™, Wipro’s digital IP, and security expertise. Wipro will also leverage its deep media expertise and innovation to enable the client in their long-term business  objectives.

 A large US-based healthcare company has awarded Wipro a multi-year contract to transform its contact center operations using Design Thinking, AI Automation & Analytics leveraging Wipro HOLMES™ and other digital technologies.
 A multinational professional services firm has awarded Wipro a Digital Workspace Services contract under which Wipro will provide IT support and transform the end user experience for its employees globally, leveraging its design-led approach.
 Wipro has won a multi-year engagement with a top Australian utility company for modernizing their core back-office platform leveraging SAP S/4 HANA digital core. This program will enable the client to consolidate and streamline their Corporate Finance, Supply Chain & Procurement functions in a single integrated platform.

Wipro continued to partner with our customers during Covid-19, some examples of how we collaborated are below:

 Our customer, an American food service, facilities, and uniform services provider caters to over 5000 client locations across the US, majority of which are now inaccessible due to the COVID-19 pandemic. The company’s Chief Growth Officer collaborated with Wipro to map nursing homes in these locations that may be in dire need of help and which could be serviced by the local task teams. We successfully developed a Google Distance Matrix API based solution to map the top 10 service locations that could aid nursing homes in their serviceable regions. Especially for the New York state nursing homes that are more severely affected than most, we could provide same day location mapping results for priority outreach. This solution now has the ability to cover all nursing homes, enabling our customer to take its humanitarian effort nationwide.

 One of the European governments recently announced multi – billion in loans for corporates to avail during the COVID19 crisis. Within a span of 3 days, we helped our customer, one of the largest banks in Europe, update and go-live with their loan processing applications to ensure their corporate customers’ businesses stay up and running. These applications can now process interest-free loans in just 15 minutes, and so far, nearly 10,000 of the bank’s corporate
customers have benefited immensely.

 Amidst the COVID-19 crisis, we helped our customer, a Postal Services company in Middle East, launch a special medicine delivery service as a part of the government’s quick response for citizens.

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