#Wipro profit drops in Q4FY16, margins below expectations pic.twitter.com/09860BFlkJ— Press Release Watch (@PrReleaseWatch) April 21, 2016
Wipro's 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. 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.
“Wipro’s revenues matched up with expectations but margins were below our expectations. Client – specific challenges in BFSI impacted growth while Energy vertical continued to witness headwinds.Wipro's FY16 net profit up 2.7 per cent to Rs 8,892.2 cr, revenue rises 9.1 per cent to Rs 51,630.7 crore from last fiscal.— Press Trust of India (@PTI_News) April 20, 2016
The revenue guidance for 1Q indicates marginal growth on an organic basis, which in disappointing.
Wipro continues to be impacted by the lack of scale up in large accounts, apart from the continuing challenges in the Energy / Telecom segments.
Consistent revenue growth in future will make us more positive on the stock.”
Views on Wipro Q4FY16 Results by Dipen Shah- SVP & Head PCG Research, Kotak securities
