WIPRO · Information Technology
Wipro Ltd. reported revenue of ₹22,302 cr for July to September 2024, −1.0% on the year and +1.5% on the quarter.
Operating profit (EBITDA) was ₹4,503 cr, a margin of 20.2%, +256 bps on the year and +39 bps on the quarter. It is the widest margin of the last 6 quarters (range 17.6% to 20.2%). Operating costs grew −4.0% against revenue growth of −1.0%, so more of each rupee of sales reached operating profit.
Net profit was ₹3,227 cr, +21.0% on the year and +6.3% on the quarter, with earnings per share of ₹3.07. Profit before other income, one-offs and tax grew 19.8%, so the profit growth came from the business itself. The tax rate of 25% is in line with its recent average.
On earnings per share of ₹11.23 over the last four quarters, the stock at ₹184.71 trades at 16.4 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹22,516 cr | ₹22,205 cr | ₹22,208 cr | ₹21,964 cr | ₹22,302 cr | ₹22,319 cr | ₹22,504 cr | ₹22,135 cr | ₹22,697 cr | ₹23,556 cr | ₹24,236 cr | ₹24,479 cr |
| YoY | — | — | — | −4% | −1% | +1% | +1% | +1% | +2% | +6% | +8% | +11% |
| EBITDA margin | 17.6% | 18.9% | 19.7% | 19.8% | 20.2% | 20.3% | 20.5% | 19.1% | 19.3% | 18.2% | 20.3% | 18.9% |
| Other income, % of PBT | 21% | 17% | 17% | 18% | 22% | 23% | 26% | 25% | 22% | 24% | 18% | 23% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 24% | 24% | 26% | 24% | 25% | 24% | 24% | 22% | 24% | 24% | 25% | 23% |
| Net profit | ₹2,667 cr | ₹2,701 cr | ₹2,858 cr | ₹3,037 cr | ₹3,227 cr | ₹3,367 cr | ₹3,588 cr | ₹3,336 cr | ₹3,262 cr | ₹3,145 cr | ₹3,522 cr | ₹3,356 cr |
| YoY | — | — | — | +5% | +21% | +25% | +26% | +10% | +1% | −7% | −2% | +1% |
| Core profit YoY | — | — | — | +4% | +20% | +17% | +10% | −3% | +0% | −9% | +8% | +5% |
| EPS | ₹2.53 | ₹2.58 | ₹2.71 | ₹2.87 | ₹3.07 | ₹3.20 | ₹3.41 | ₹3.18 | ₹3.10 | ₹2.97 | ₹3.34 | ₹3.38 |
| Flags | · | · | · | ✓ | ✓ | 1 | 2 | ✓ | 1 | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Wipro Ltd. reported revenue of ₹22,302 cr (−1.0% on the year) and net profit of ₹3,227 cr (+21.0% on the year) for July to September 2024.
Profit before other income, exceptional items and tax moved +19.8% on the year, against +21.0% for reported profit.
None of the 7 checks that could run raised a question.
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