Wipro reports IT services revenue of Rs 13,402cr in Q4; net profit grew 7.2pc

Wipro’s net profit for the quarter ended March, 2017 has grown 7.2 percent sequentially to Rs 2,267 crore while IT services revenue grew 1.56 percent to Rs 13,402.1 crore in Q4 from Rs 13,200 crore in Q3.

Wipro expects its Q1FY18 IT services business revenue to be in the range of  $1,915-1,955 million. Guidance is based on the exchange rate(USD/INR) of 66.26.  The guidance is lower than the estimates due to the uncertainty in the US healthcare industry and the continued structural challenge in the consumer segment, especially in the retail vertical, according to the company

“We delivered revenues within the guidance range in our fourth quarter,” said Abidali Z. Neemuchwala, Chief Executive Officer, Wipro. “We are confident that the recovery in Energy & Utilities and our demonstrated strength in Digital will help us improve our growth trajectory during the course of the current financial year.”

"In FY17 our digital revenues grew from 17.5pc of our total revenues in Q1 when we started reporting it to 22.1pc of our total Q4 revenues. Similarly our consulting revenues grew from 4.9pc in Q1 to 5.6pc in Q4. In line with the growing demand for digital services we continue to augment our workforce with digital skills," added he further.

Vertical-wise, Consumer business grew 3.3pc sequentially, energy, natural resources & utilities grew 3.4pc, Finance solutions grew 4.4pc ; and manufacturing and technology grew 5.3pc. There was a 3.9pc decline in Communications and 1.4pc in healthcare, life sciences & services business.

Geography-wise, Americas revenue grew 1.4pc sequentially, Europe revenue grew 6.4pc, India 1.9pc, and APAC and other emerging market revenue grew 2.3pc.