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Wipro Q4 results: Net profit falls 8% to Rs 2,835 crore, beats estimates

Wipro Ltd said net profit fell 8 percent to Rs 2,835 crore for the fiscal fourth quarter, beating estimates. The company reported a profit of Rs 3,074.5 crore in the year-ago period.

The software services company’s revenue fell to Rs 22,208.3 crore in the three months ended March 31, according to an exchange filing on April 19. It reported consolidated revenue of Rs 23,190.3 crore in the year-ago period.

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Wipro beat both bottomline and topline analyst estimates of Rs 2,748 crore on Rs 22,117 crore, respectively.

IT services segment revenue was at $2.66 billion, an increase of 0.1% sequentially and a decrease of 6.4 percent from a year earlier.

Yes, Wipro’s Q4 results were a mixed bag. Here’s a breakdown:

Profit Decline: Net profit fell by 8% year-over-year to Rs 2,835 crore. This indicates a decrease in profitability compared to the same quarter last year.
Beat Estimates: However, the profit figure was higher than analysts’ expectations, which is a positive sign. This suggests that Wipro might have managed their costs effectively or experienced growth in higher-margin segments.

Here are some additional details to consider:

Revenue: Revenue from operations also declined by 4.2% compared to the previous year. This suggests a decrease in overall sales.
Headcount Reduction: The company also reported a workforce reduction of 6,180 employees during the quarter.

Overall, Wipro’s Q4 results show a decline in profitability and sales. However, exceeding analyst expectations for profit might indicate some positive aspects in their performance.

To get a more comprehensive picture, it would be helpful to look for further analysis:

News articles discussing analyst opinions on Wipro’s performance and future outlook.
Company reports or presentations that might provide more details about the reasons behind the profit decline and revenue drop.

Remember, this information is for general knowledge purposes only and shouldn’t be considered investment advice.