IT major Wipro Ltd on Friday reported a 3.8 percent year-on-year (YoY) rise in net profit at Rs 3,087 crore for the fourth quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 2,972.3 crore.

Total revenue for the quarter rose 2.6 percent YoY to Rs 20,967.5 crore from Rs 20,432.3 crore in the year-ago quarter.

For the year ended March 31, 2022, Wipro posted a 12.57 percent increase in consolidated net profit at Rs 12,232.9 crore. It stood at Rs 10,866.2 crore in the same period a year ago. The company's annual revenue from operations jumped 28 percent to Rs 79,747.5 crore in the last fiscal from Rs 62,234.4 crore in 2020-21.

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Thierry Delaporte, CEO and managing director said, "We have had an outstanding year, finishing with $10.4 billion in revenues, and an industry-leading growth of 27 percent YoY. This is our sixth straight quarter of strong revenue growth at or over 3 percent."

Delaporte said the firm was excited about the addition of Rizing and the CAS Group to Wipro’s service offerings. "With all markets, sectors and global business lines now growing in the double-digits year on year, we have a strong foundation for next year’s growth," he said.

Bengaluru-based company said its attrition rate continued to climb during the January-March 2022 period to 23.8 percent on a trailing 12-month basis from 22.7 percent in the third quarter.

The company expects revenue from our IT services business to be in the range of $2,748 million to $2,803million. This translates to a sequential growth of 1 percent to 3 percent.

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"Our efforts on client mining have resulted in an addition of eight customers in more than $100 million bucket on a Y-o-Y basis. We delivered operating margins of 17.7 percent for the year, after significant investments on solutions, capabilities and talent. "Net income for the year was highest ever at $1.6 billion and delivered robust growth in EPS of 17 percent Y-o-Y," Wipro chief financial officer Jatin Dalal said.

The results came after the close of the market hours. Shares of Wipro ended at Rs 509.00, down by Rs 13.35, or 2.59 percent on the BSE.

First Published:Apr 29, 2022 4:28 PM IST