Key Highlights: Wipro Q4 cons net up 17% YoY

Moneycontrol Bureau

India's third largest software services exporter Wipro reported fourth quarter consolidated net profit growth of 17 percent year-on-year (near 1 percent sequentially) to Rs 1,729 crore, helped by new deal wins. Here are the key highlights of Jan-March quarter: Net profit of Rs 1,729 crore, up 17 percent YoY (1 percent QoQ) Net Sales of Rs 9,613 crore, up 13 percent YoY (0.3 percent QoQ) IT Services revenue of Rs 8,554 crore, up 13 percent YoY In US Dollar terms, IT Services Revenue up 3 percent YoY (0.5 percent sequentially) to USD 1,585 million Forecast IT services revenue in USD 1,575-1,610 million range for Q1, FY14 Revenue from Consumer Care & Lighting (demerged into privately held Wipro Enterprises) up 15% YoY to Rs 1,044 crore EBIT from Consumer Care & Lighting up 18% percent to Rs 134 crore Revenue from IT Products up 15 percent to Rs 1,075 crore EBIT from IT Products down 39 percent to Rs 27 crore Added 52 customers in the IT services business 1,45,812 employees as of March 31, increase of 2,907 people Management Talk: Suresh Senapaty, ED & CFO: “The cross currencies have been volatile and impacted our financial performance in the quarter. Excluding the impact of foreign exchange, we have been able to maintain margins on a sequential basis. We have shown significant improvements in cash flow generation for the year.” TK Kurien, ED & CEO, IT Business: “We continue to see improvement in our customer satisfaction and employee engagement. Our continued investments in the go-to-market organization positions us well for the future.” Peer Comparison: Tata Consultancy Services: India's largest software services exporter reported fourth quarter results largely in-line with street expectations. Consolidated net profit was up 22 percent YoY to Rs 3,597 crore. Revenue rose 24 percent to Rs 16,430 crore. TCS doesn't give specific guidance, but is confident of beating NASSCOM's 12-14 percent industry growth guidance in FY14. Infosys The second largest IT company disappointed the street. Net profit rose little higher-than-expected 3 percent YoY to Rs 2,394 crore. But revenue missed estimates at Rs 10,454 crore, up 18 percent. Infy has guided for 6-10 percent US Dollar revenue growth in FY14. HCL Technologies The company topped street expectations with a net profit of Rs 1,040 crore, up 73 percent YoY. Revenue surged 23 percent to Rs 6,425 crore in Jan-March, its third quarter. Nachiket Kelkar
nachiket.kelkar@network18online.com