Software services provider, Wipro, has reported a 5.3 percent sequential fall in its consolidated profit for the fourth quarter at Rs 2,326.1 crore for the quarter ended March 2020.
The company had posted a profit of Rs 2,455.9 crore for the quarter ended December 2019.
However, the company’s IT services revenue was up 1.3 percent at Rs 15,296 crore against Rs 15,100.6 crore, QoQ.
The company has not provided revenue guidance for the April-June quarter on account of uncertainty over COVID-19.
“In these unprecedented times, I am extremely proud of how the Wipro team has come together and worked 24/7 to ensure the safety and well-being of each other while continuing to serve our clients. We hope that all of us stay safe and strong during these tough times. We are confident that our broad portfolio of services and our ability to execute to our commitments makes us well-positioned to gain market share,” said Abidali Z. Neemuchwala, CEO and Managing Director.
The company’s IT Services EBIT declined 2.9 percent at Rs 2,692.5 crore versus Rs 2,773.6 crore, while EBIT margin was down at 17.6 percent versus 18.4 percent, QoQ.
The IT services dollar revenue fell 1 percent at USD 2,073.7 million against USD 2,094.8 million.
The board has not recommended any final dividend. The interim dividend of Re 1 declared by the board in January shall be considered as the final dividend for the financial year 2019-20.
Wipro share price ended at Rs 186.55, down Rs 2.90, or 1.53 percent on the BSE.
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