IT services provider Wipro today announced financial results for the quarter and year ended March 31, 2021.
Results for the quarter ended March 31, 2021:
Gross Revenue was Rs 162.5 billion ($2.2 billion), an increase of 3.4 percent
IT Services segment revenue was at $2,152.4 million, an increase of 3.9 percent QoQ and 3.8 percent YoY
IT Services operating margin for the quarter was at 21.0 percent, an expansion of 344 bps YoY
Net income for the quarter was Rs 29.7 billion ($406.4 million), an increase of 27.8 percent YoY
Results for the year ended March 31, 2021:
Gross Revenue was Rs 619.4 billion ($8.5 billion1), an increase of 1.5 percent YoY
IT Services segment revenue was at $8,136.5 million, a decrease of 1.4 percent YoY
IT Services Operating Margin for the year was at 20.3 percent, an expansion of 218 bps YoY
Net Income for the year was Rs 107.9 billion ($1,475.9 million), an increase of 11.0 percent YoY
Wipro said it expects revenue from IT Services business to be $2,195-$2,238 million for the quarter ending June 30, 2021, reflecting a sequential growth of 2-4 percent. Wipro said this does not include revenue from recently announced acquisitions of Capco and Ampion.
