Ethical Research - Wipro posts 35% yoy rise in net income for Q2FY20



Wipro Ltd.'s net Income for Q2FY20 was Rs2,550cr, an increase of 35.1% yoy. Gross Revenue was Rs15,130cr ($2.1bn) for the quarter, an increase of 4.0% yoy.

Key Highlights:
  •   IT Services segment's revenue was at $2,048.9mn, an adjusted increase of 2.5% yoy
  •   Non-GAAP constant currency IT Services segment revenue increased by 1.1% qoq.
  •   Adjusted non-GAAP constant currency IT Services Segment Revenue grew 3.8% yoy.
  •   IT services operating margin for the quarter was at 18.1%, an increase of 3.1% yoy.
  •   EPS for the quarter was Rs3 per share and grew 36.7% yoy.


Revenue Guidance:

  • The company expects revenue from its IT Services business to be in the range of $2,065mn to $2,106mn. This translates to a sequential growth of 0.8% to 2.8%.


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