Wipro Q1FY23 results: A look at the performance in the last four quarters
Wipro Limited will announce its financial results for the first quarter of the financial year 2022-23 (Q1FY23) on Wednesday. Last quarter, the company posted a 28.4 per cent year-on-year (YoY) increase in gross revenue, which rose to $2.7 billion. The operating margin was recorded at 17 per cent.
The largest part of the company’s revenue came from banking, financial services and insurance, which accounted for 35.4 per cent of the total. The consumer segment followed with a 17.9 per cent share of the revenue.
Marginal rise in gross revenue
In the last four quarters, the company has seen a marginal rise in gross revenue. In Q1FY22, the gross revenue stood at $2.5 billion. It rose to $2.7 billion in Q2FY22. In Q3FY22 and Q4FY22, it remained constant at $2.7 billion.
Net income was lower in Q4FY22 as compared to Q1FY22
In Q4FY22, Wipro Ltd recorded a net income of $406.9 million, an increase of 4 per cent QoQ. However, it was lower than the net income in Q1FY22, which stood at $434.8 million.
The net income in the other two quarters stood below $400 million. In Q2FY22 and Q3FY22, the figures were recorded at $395.2 million and $399.1 million, respectively.
However, high global inflation, high attrition rates and the rupee reaching an all-time low may lead to a modest rise in the revenue of the company this quarter, experts suggested.
In 2022, shares of Infosys, Wipro, TCS and HCL Technologies have shed up to 43 per cent. On the other hand, benchmark indices Nifty50 and the Sensex have bled around 6 per cent each, market data shows.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Comments are closed.