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Wipro Q4 net profit 2016: The country's third-largest IT firm, the Azim Premji led Wipro Ltd today said its consolidated net profit dipped 1.6 per cent to Rs 2,235 crore for the quarter ended March. This is against a net profit of Rs 2,272 crore in the same quarter last fiscal, Wipro said in a filing to the BSE – Abidali Z Neemuchwala is the CEO of Wipro. The company's revenue, however, rose 12.9 per cent to Rs 13,741.7 crore during the reported quarter, from Rs 12,171.4 crore in the year-ago period. (Reuters)
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Wipro Q4 net profit 2016: Abidali Z. Neemuchwala, Chief Executive Officer & Member of the Board, said, “Our focus is to drive significant growth in our ‘run’ business through integrated services and hyper-automation while gaining leadership in the ‘change’ business through investments in Digital and Consulting capabilities, IP-based platforms & products and creating differentiated domain solutions for non-linear growth.” (Reuters)
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Wipro Q4 net profit 2016: IT services revenue, which account for a lion's share of its turnover, stood at Rs 12,796.7 crore in the March quarter as against Rs 11,241.7 crore a year ago, showing a growth of 13.8 per cent. (Reuters)
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Wipro Q4 net profit 2016: For FY2015-16, its net profit increased 2.7 per cent to Rs 8,892.2 crore, while revenue grew 9.1 per cent to Rs 51,630.7 crore from last fiscal. Its Board of Directors has approved a proposal to buyback up to 4 crore shares for around Rs 2,500 crore. (Reuters)
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Wipro Q4 net profit 2016: This represents 1.62 per cent of the total paid-up capital at Rs 625 per equity share, it added. The buyback is proposed to be made from all existing shareholders of the company. (Reuters)
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5. Wipro employees salary hike at 9.5%in 2016; Infosys pay hike 6-12 pct, TCS 8-12 pct: Wipro said it will hike salaries of its employees in the country by an average 9.5 per cent this fiscal. "Wipro Ltd will announce a salary increase for eligible employees, effective June 1, 2016. The average salary hike will be 9.5 per cent for offshore employees and 2 per cent for onsite employees, respectively," said a statement. At the end of March 31, 2016, the company had 1,72,912 employees on its payrolls. Cross-city rival Infosys has given wage hikes of 6-12 per cent to its employees in India and of about 2 per cent to onsite workers, apart from offering equity to incentivise top performers. Tata Consultancy Services (TCS) has also given 8-12 per cent hike to employees this year. (Reuters)
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WIPRO Q4 NET PROFIT 2016: RESULTS OF THE QUARTER ENDED MARCH 31, 2016 – 1.) Gross Revenues were Rs 136.3 billion ($2.1 billion1), an increase of 12% YoY. 2.) Net Income2 was Rs 22.4 billion ($337 million1), decrease of 2% YoY. 3.) Non-GAAP constant currency IT Services Revenue in dollar terms grew 2.7% to $1,887.6 million, within our guidance range of $1,875 million to $1,912 million. 4.) IT Services Revenue was $1,882.0 million, a sequential increase of 2.4% and YoY increase of 6.1%. 5.) IT Services Segment Revenues in Rupee terms was Rs 128.0 billion ($1,932 million1), an increase of 14% YoY. 6.) IT Services Segment Profit3 was Rs 25.7 billion ($387 million1), an increase of 4% YoY. 7.) IT Services Margins for the quarter was 20.1%. (PTI)
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