Wipro mega share buyback moves ahead, Rs 10,500 crore plan gets board nod; key figures from Q4 results

By: | Updated: April 17, 2019 3:59 PM

India’s major IT firm Wipro has approved a share buyback program for up to Rs 10,500 crore. We take a closer look at key figures from its Q4 results.

Stock Tips, Stock Tips For FY20, Stock Market, Stock Trading, BSE, NSE, नए वित्त वर्ष में ये शेयर दे सकते हैं अच्छा रिटर्न, शेयर बाजार, स्टॉक मार्केटAs part of its mega buyback, Wipro looks to repurchase 32.30 crore equity shares at up to Rs 325 per equity share.

India’s major IT firm Wipro has approved a share buyback program for up to Rs 10,500 crore. As part of its mega buyback, Wipro looks to repurchase 32.30 crore equity shares at up to Rs 325 per equity share. Interestingly, while rivals TCS and Infosys have recommended a final dividend of Rs 18 and Rs 10.50 respectively, Wipro has not recommended any final dividend. “The interim dividend of Rs 1 declared by the Board at its meeting held on January 18, 2019 shall be considered as the final dividend for the financial year 2018-19. Thus, the total dividend for the financial year 2018-19 remains Rs 1 per equity share,” Wipro said in the release. Wipro’s shares today closed 2.5% lower at Rs 281, ahead of the Q4 results.

Wipro Q4 results: Q4 net profit jumps 38% on-year to Rs 2,483 crore; key figures

  • Wipro’s gross revenue came in 9% higher at  Rs 15,010 crore ($2.2 billion1 ).
  • The IT services segment revenue was $2,075.5 million, implying a growth of 1.4% on-quarter.
  • IT Services operating margin for the quarter was at 19.0%, implying growth of 4.4% on-year.
  • Net Income for the quarter was Rs 2,483 crore ($359.1 million ), registering a growth of 37.7% on -year.
  • The  EPS for the quarter was ₹4.13 per share, a growth of 37.7% on-year.
  • IT Services business revenue guidance– “We expect Revenue from our IT Services business to be in the range of $2,046 million to $2,087 million*. This translates to a sequential growth of -1.0% to 1.0% excluding the impact of the divestment of our Workday and Cornerstone On Demand business which was concluded in the quarter ended March 31, 2019,” Wipro said.
  • Taking stock of the results, Abidali Z. Neemuchwala, CEO and Executive Director  said, “Our teams have executed well on our strategy which has resulted in consistent improvement of YoY growth each quarter. We have built a strong foundation for growth on the back of healthy order book and continued investments in big bet areas of Digital, Cyber security, Engineering services and Cloud. Our customers find these investments relevant as part of their digital transformation and IT Operations landscape modernization, enabling us to win in the market.

(First published on 16th April 2019 on www.financialexpress.com)

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