Wipro Limited Announces Results for the Quarter and Year ended March 31, 2019 under IFRS

Business Wire India

Gross Revenue was Rs 585.8 billion ($8.5 billion), an increase of 7.5% YoY
IT Services Segment Reported Revenue was $8,120.3 million and grew at AdjustedYoY growth of 3.8%
Adjusted Non-GAAP constant currency IT Services Segment Revenue grew 5.4% YoY
IT Services Operating Margin for the year was 17.9%, an expansion of 1.8% YoY
Net Income was Rs 90.0 billion ($1.3 billion), an increase of 12.4% YoY
EPS for the year was Rs 14.99 per share, a growth of 18.6% YoY
Board approves Buyback proposal of Rs 105 billion ($1.5 billion) at a buyback price of Rs 325 ($4.7)

Gross Revenue was Rs 150.1 billion ($2.2 billion), an increase of 9.0% YoY
IT Services Segment Revenue was $2,075.5 million, a growth of 1.4% QoQ
Non-GAAP constant currency IT Services Segment Revenue grew by 1.0% QoQ. Adjusted Non-GAAP constant currency IT Services Segment Revenue grew 6.9% YoY
IT Services Operating Margin for the quarter was at 19.0%, an increase of 4.4% YoY
Net Income for the quarter was Rs 24.8 billion ($359.1 million), an increase of 37.7% YoY
EPS for the quarter was Rs 4.13 per share, a growth of 37.7% YoY

The Board of Directors approved a buyback proposal, subject to the approval of shareholders through postal ballot, for purchase by the company of up to 323.1 million equity shares of Rs 2 each (representing 5.35% of total paid up equity capital) from the shareholders of the company on a proportionate basis by way of a tender offer. The buyback price is Rs 325 ($4.7) per equity share payable in cash for an aggregate amount not exceeding Rs 105 billion ($1.5 billion).
Further to the announcement on January 18, 2019, the Company, during the quarter ended March 31, 2019, allotted Bonus equity shares of Rs 2/- each in the ratio of 1:3 (one bonus share for every three shares held) to the shareholders of the Company who were on the Register of Members of the Company as on March 7, 2019, which was the Record Date fixed by the Board of the Directors for this purpose.
The Board of Directors at its meeting held on January 18, 2019, had declared an interim dividend of Rs 1 per equity share for the financial year 2018–19. The Board recommends adoption of the interim dividend as the final dividend for the financial year 2018–19. Thus, the total dividend for the financial year 2018–19 remains Rs 1 per equity share.

A leading North American financial services company has awarded a contract to Wipro to transform its security products suite. The multi-year engagement, powered by Wipro HOLMES, will help the client achieve operational agility for the adoption of new-age cyber security tools and enhance its security compliance framework.
A global technology company has selected Wipro to design and deliver a new level of experience for support services enterprise agility and modernizing core IT systems by leveraging Wipro HOLMES and third party cloud provider.
A leading Europe-headquartered manufacturer has awarded a multi-year digital workplace transformation contract to Wipro to drive employee productivity and cost optimization. The engagement will leverage Wipro’s LiVE Workspace platform and automation and AI capabilities to enable next-generation digital workplace services for the client.
Wipro has won an applications management contract from a European power company. The multi-year engagement will help the client carry out secure and efficient electricity trade.
A global consumer packaged goods company has awarded a cloud and IT infrastructure services contract to Wipro encompassing cloud hosting, applications, desktop virtualization, end user computing and cloud service integration and management.

Wipro's design-led value proposition, anchored by Wipro Digital and Designit, has secured a multi-year contract from a large North American healthcare company to reimagine their IT service desk and employee experience. The engagement will also leverage the Wipro HOLMES platform.
Wipro Digital has been selected to modernize a software-as-a-service e-mail security solution for a global technology company by rebuilding its user interface and other components.
Drawing on Wipro's agile way of working and no-shore delivery model, a US retailer has awarded Wipro Digital a contract to build their next generation enterprise content management system that will allow them to create and scale customer experience, across channels through effective digital asset management.

Wipro was recognized as the 2018 Citrix Cloud Partner of the Year for the India and ANZ regions for helping customers define their cloud journey in the area of digital workspace.
Wipro was positioned as a Leader in Gartner Magic Quadrant for Managed Workplace Services, North America. Daniel Barros, Mark Ray, January 14, 2019
Wipro was positioned as a Leader in Gartner Magic Quadrant for Public Cloud Infrastructure Professional and Managed Services, Worldwide, Craig Lowery et al.,February 26, 2019
Wipro was positioned as a Leader in Gartner Magic Quadrant for CRM and Customer Experience Implementation Services, Worldwide, Patrick Sullivan, Ed Thompson, February 7 2019
Wipro was recognized as a Leader in The Forrester Wave™: Global Continuous Testing Service Providers, Q1 2019
Wipro was ranked among the HFS Top 10 High-Tech Service Providers 2019
Wipro was featured as a leading service provider in the HFS Top 10 Healthcare Services 2018
Wipro was recognized as a Leader by Everest Group in Banking BPO Digital Capability Platform Service Provider Landscape PEAK Matrix™ Assessment 2019
Wipro was recognized as Leader by Everest Group in Application Automation Services PEAK Matrix™ Assessment 2019

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Source: Businesswire

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