City
Epaper

Wipro reports 6 pc fall in Q4 profit, holds back revenue guidance for Q1 FY21

By ANI | Updated: April 15, 2020 18:35 IST

IT major Wipro on Wednesday reported a 6 per cent year-on-year fall in profit at Rs 2,345 crore for the January to March quarter as compared with Rs 2,494 crore in the year-ago period.

Open in App
IT major Wipro on Wednesday reported a 6 per cent year-on-year fall in profit at Rs 2,345 crore for the January to March quarter as compared with Rs 2,494 crore in the year-ago period.

Revenue for the quarter rose by 4.7 per cent in Q3 FY20 to Rs 15,711 crore from Rs 15,006 crore in Q3 FY19.

The company has not provided revenue guidance for the April-June quarter on account of uncertainty over COVID-19.

Chief Financial Officer Jatin Dalal said the quarters ahead seem challenging and require a tremendous response on costs.

"We also anticipate our working capital to increase, but our strong balance sheet provides us with the confidence that we will emerge stronger and better. Further, due to the volatility in the external environment, we have decided not to provide quarterly guidance on revenues," he said in a statement.

Managing Director and CEO Abidali Z Neemuchwala said: "In these unprecedented times, I am extremely proud of how the Wipro team has come together and worked 24x7 to ensure the safety and well-being of each other while continuing to serve our clients.

He added: "We are confident that our broad portfolio of services and our ability to execute to our commitments makes us well-positioned to gain market share."

The board has not recommended any final dividend. The interim dividend of Re 1 declared by the board in January will be considered as the final dividend for the financial year 2019-20.

( With inputs from ANI )

Tags: WiproAbidali Z NeemuchwalaJatin Dalal
Open in App

Related Stories

BusinessWipro Announces New IT Center in Hyderabad, to Create 5,000 Jobs

TechnologyJobs for Freshers in Wipro: Tech Major To Hire 10,000-12,000 From Campuses in Financial Year 2025-26

BusinessWipro CEO Thierry Delaporte Resigns, Srinivas Pallia Named as Next CEO

BusinessWipro Layoffs: Company Likely to Cut Hundreds of Jobs to Improve Margins

TechnologyWipro logs higher net and revenue in Q1

Business Realted Stories

BusinessMobius Foundation Hosts Panel Discussion on Saving the Himalayan Cryosphere

Business13th Edition of Tiger Cup 2025, Supported by Cycle Pure Agarbathi, Kicks Off with Debut of Girls' League

BusinessWorried About Market Volatility? Lock in Shriram Unnati FD's High Rates While You Still Can

BusinessPowering India's Maritime Excellence by Capt Bjorn Hojgaard

BusinessThe PEDIGREE® Brand in India Reimagines Pet Nutrition as a Love Language in its Latest Campaign with Bhumi Pednekar