Wipro Q4 Results: Consolidated Net Profit Rises 4% To Rs 3,087 Cr, Attrition rate At 24%

Wipro's consolidated revenue from operations rose just 0.3 per cent on-quarter to Rs 20,860 crore for the fourth quarter

Wipro said that it expects revenue from the IT services business to be in the range of $2,748 million to $2,803 million. Image: Getty

New Delhi: Indian IT major Wipro on Friday posted a consolidated net profit of 4 per cent to Rs 3,087 crore for the quarter ended March 31.

The Bengaluru-based company's consolidated revenue from operations rose just 0.3 per cent on-quarter to Rs 20,860 crore for the said quarter.  

In a statement, Wipro’s Chief Executive Officer and Managing Director Thierry Delaporte said, “We have had an outstanding year, finishing with $10.4 billion in revenues, and an industry-leading growth of 27 per cent year-on-year (YoY). This is our sixth straight quarter of strong revenue growth at or over 3 per cent.”

The company reported an attrition rate at 23.8 per cent.

"With all markets, sectors, and Global Business Lines now growing in double-digits YoY, we have a strong foundation for next year’s growth," Delaporte added.

Most regions, including North America, Europe, and Asia contributed to the sturdy top line growth of the company. During the quarter, the IT services company added two new clients in the $100 million-plus category and three in the $50 million-plus basket.

Wipro said that it expects revenue from the IT services business to be in the range of $2,748 million to $2,803 million, which translates to a sequential growth of 1 per cent to 3 per cent.

In the reported quarter, its IT services revenues was at $2,721.7 million, a jump of 3.1 per cent QoQ and 26.4 per cent YoY.

On Friday, shares of Wipro shed 2.59 per cent to close at Rs 509.00 a share on the BSE.