Wipro Q4 FY2021 results : Indian IT firm reports 27.8% increase in net income at $406m

Wipro Q4 FY2021 results : Wipro has reported a net income of INR29.7 billion ($406.4 million) for the fourth quarter of the fiscal year 2021 (Q4 FY2021) that ended 31 March 2021, a 27.8% increase compared to INR23.35 billion ($310 million) reported in Q4 FY2020.

The Indian IT services provider registered an increase of 31.8% year-over-year (YoY) in earnings per share in the reported quarter at INR5.39 ($0.071).

For FY 2020-21 that ended 31 March 2021, Wipro registered net income of $1.47 billion (INR107.9 billion) compared to $1.31 billion (INR97.7 billion) made in FY 2019-20.

Wipro Q4 FY2021 gross revenue was INR162.5 billion ($2.2 billion), which is a YoY increase of 3.4%.

For FY 2020-21, the company’s gross revenue was INR619.4 billion ($8.5 billion), a 1.5% increase YoY.

As per Wipro Q4 FY2021 results, the company’s IT services unit posted revenue of $2.15 billion in Q4 FY2021, which is a 3.8% increase YoY. However, for FY2021, the IT services segment of the company had a 1.4% decrease YoY to $8.13bn.

Wipro CEO comments on Wipro Q4 FY2021 results

Commenting on Wipro Q4 FY2021 results, Thierry Delaporte – CEO and Managing Director of Wipro, said: “I am delighted with the way we have finished the financial year. We delivered a third consistent quarter of strong revenue growth, deal wins and operating margins. We also announced our largest ever acquisition of Capco that will bolster our global financial services sector.

“We are excited with this wave of business momentum that we are witnessing. All key markets are now growing on YoY basis and this provides us a solid foundation to build on next year growth rates.”

The fourth quarter of the fiscal year 2021 saw Wipro sign a $1.45 billion deal for acquiring Capco, a London-based management and technology consultancy. (Read more about Wipro acquisition of Capco here)