Wipro Limited Announces Results for the Quarter and Year ended March 31, 2022 under IFRS

Rhea-AI Summary

Wipro Limited (NYSE: WIT) reported robust financial results for the fiscal year ending March 31, 2022, with gross revenue of Rs 790.9 billion ($10.4 billion), marking a 27.7% increase YoY. IT Services segment revenue rose 27.3% YoY to $10,355.9 million. Net income reached Rs 122.2 billion ($1.6 billion), up 13.2% YoY, with EPS growing 17.0% to Rs 22.35 ($0.291). However, operating margin for the year fell 254 bps to 17.7%. Outlook for Q1 FY2023 anticipates revenue between $2,748 million and $2,803 million, reflecting 1% to 3% sequential growth.

Positive

• 27.7% YoY revenue growth to Rs 790.9 billion ($10.4 billion).
• Net income increased 13.2% YoY to Rs 122.2 billion ($1.6 billion).
• Earnings per share rose 17.0% YoY to Rs 22.35 ($0.291).
• IT Services segment revenue increased 27.3% YoY to $10,355.9 million.

Negative

• Operating margin decreased 254 bps YoY to 17.7%.
• Operating margin for the quarter fell 60 bps QoQ.

IT Services delivers strong sequential revenue growth for the quarter at 3.1% in CC, Revenue growth for the year at 27.3% YoY, and EPS growth rate for the year of 17.0% YoY

BANGALORE, India & NEW YORK--(BUSINESS WIRE)-- Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) today announced financial results under International Financial Reporting Standards (IFRS) for the quarter and year ended March 31, 2022.

Highlights of the Results

Results for the Quarter ended March 31, 2022:

• Gross Revenue was Rs 208.6 billion ($2.7 billion¹), an increase of 28.4% YoY
• IT Services Segment Revenue was at $2,721.7 million, an increase of 3.1% QoQ and 26.4% YoY
• Non-GAAP² constant currency IT Services segment revenue increased by 3.1% QoQ and 28.5% YoY
• IT Services Operating Margin³ for the quarter was at 17.0%, a decrease of 60 bps QoQ
• Net Income for the quarter was Rs 30.9 billion ($406.9 million¹), an increase of 4.0% QoQ and 3.9% YoY
• Earnings Per Share for the quarter was at Rs 5.64 ($0.07¹), an increase of 4.6% YoY
• Operating Cash Flow was at Rs 23.3 billion ($307.3 million¹), which is 75.5% of Net Income

Results for the Year ended March 31, 2022:

• Gross Revenue was Rs 790.9 billion ($10.4 billion¹), an increase of 27.7% YoY
• IT Services Segment Revenue was at $10,355.9 million, an increase of 27.3% YoY
• Non-GAAP² constant currency IT Services Segment Revenue increased by 26.9% YoY
• IT Services Operating Margin³ for the year was at 17.7%, a decrease of 254 bps YoY
• Net Income for the year was Rs 122.2 billion ($1,610.5 million¹), an increase of 13.2% YoY
• Earnings Per Share for the year was at Rs 22.35 ($0.29¹), an increase of 17.0% YoY
• Operating Cash Flow was at Rs 110.8 billion ($1,460.4 million¹), which is 90.7% of Net Income
• Our closing strength of employees for IT Services was at 243,128, an increase of 45,416 employees on a YoY

Performance for the Quarter and Year ended March 31, 2022

Thierry Delaporte, CEO and Managing Director said, “We have had an outstanding year, finishing with $10.4 Bn in revenues, and an industry-leading growth of 27% year on year. This is our sixth straight quarter of strong revenue growth at or over 3%. We are excited with the addition of Rizing and the CAS Group to Wipro’s service offerings. With all markets, sectors and Global Business Lines now growing in double-digits year on year, we have a strong foundation for next year’s growth.”

Jatin Dalal, Chief Financial Officer said, “Our efforts on client mining have resulted in an addition of eight customers in more than $100 Mn bucket on YoY basis. We delivered operating margins of 17.7% for the year, after significant investments on solutions, capabilities and talent. Net Income for the year was highest ever at $1.6 Bn and delivered robust growth in EPS of 17.0% YoY.”

Outlook for the quarter ending June 30, 2022

We expect Revenue from our IT Services business to be in the range of $2,748 million to $2,803 million*. This translates to a sequential growth of 1% to 3%.

*Outlook is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.12, AUD/USD at 0.73, USD/INR at 75.26 and CAD/USD at 0.79

Capital Allocation

The interim dividend of Rs 1 and Rs 5 declared by the Board at its meetings held on January 14^th and March 25^th, 2022 shall be considered as the final dividend for the financial year 2021-22.

IT Services

Wipro continued its momentum in winning large deals with our customers as described below:

• A US-based global healthcare company will leverage Wipro FullStride Cloud Services to engineer products for cloud and digital technologies based on a Product Oriented Delivery (POD) model.
• A US-based multinational technology company has renewed its existing contract to curate geospatial information that will enable the customer with evaluations and recommendations on map modelling processes.
• A leading US-based global benefits and payroll administration company has awarded Wipro a transformational business process services contract to optimize costs in health & wealth benefits and customer care.
• A multinational telecommunications network company, headquartered in the Nordics, has awarded Wipro a contract to drive transformation and digitalization of business processes that enhances customer value through high quality service delivery.
• A leading Europe-based provider of transport solutions has partnered with Wipro to transform their digital workplace, supporting the shift towards sustainable transport solutions.

Digital Services Highlights

We continue to see increasing traction in digital oriented and other strategic deals as illustrated below:

• A leading global cosmetics company has selected Wipro to rollout their SAP S/4HANA in a region that will drive their business growth. This transformation will enable the customer to harmonize their business processes, accelerate time to market, innovate, and enhance user experience.
• A leading Asia-based multinational automotive electronics supplier has selected Wipro to develop the engineering blueprint for their next generation software defined vehicle platform using Wipro’s Cloud Car architecture.
• Designit has been selected by a multinational technology conglomerate to design a digital onboarding experience and support hybrid working needs of employees of a large company in the mobility sector.
• A Smart City based in the Middle East has selected Wipro to build a secure, reliable on-demand 5G network using autonomous drones for the high-bandwidth requirements of residents, businesses, and visitors.
• A Europe based financial services company has renewed its Data Center and cloud infrastructure management contract with Wipro to support its transformation to a Hybrid Cloud model.
• A government body based in the Middle East has selected Wipro as the digital partner to build a data-led AI marketplace that will bring the local talent, government and private sector together.
• Wipro is engaged as the primary partner to design and develop hardware for a series of RUs (radio units) to enable end to end O-RAN 5G solution deployment for service provider customers with one of the leading US based telecommunications networking provider.

Analyst Recognition

• Wipro was recognized as a Leader in the 2022 Gartner® Magic Quadrant™ for Data and Analytics Service Providers
• Wipro was recognized as a Leader in the 2022 Gartner® Magic Quadrant™ for Outsourced Digital Workplace Services
• Wipro was recognized as a Leader in the 2022 Gartner® Magic Quadrant™ for Customer Service BPO
• Wipro was featured in HFS Top 10: Retail and CPG Services, Application Modernization Services and SAP S/4HANA Services, 2022
• Wipro ranks among the Top Service Providers in Whitelane Benelux IT Sourcing Study 2022 and Netherlands IT Outsourcing Study 2021
• Wipro was rated as a Leader in Everest Group’s Digital Interactive Experience (IX) and Digital Product Engineering Services PEAK Matrix® Assessment 2022
• Wipro was rated as a Leader in Everest Group’s Artificial Intelligence (AI) Services and Intelligent Process Automation (IPA) Solution Provider Landscape with PEAK Matrix® Assessment 2022
• Wipro was recognized as a Leader in Everest Group’s Healthcare Payer Operations and Oracle Cloud Applications (OCA) Services PEAK Matrix® Assessment 2022 – Global
• Wipro was recognized as a Leader in Avasant Healthcare Payor Digital Services and Provider Digital Services RadarView™ 2022 - 2023
• Wipro was rated as a Leader in Avasant Intelligent Automation Services RadarView™ 2021 – 2022

Disclaimer: *Gartner, “Magic Quadrant for Data and Analytics Service Providers”, Jorgen Heisenberg, et al, 7 February 2022. Gartner, “Magic Quadrant for Data and Analytics Service Providers”, Gartner, “Magic Quadrant for Outsourced Digital Workplace Services”, Daniel Barros, et al, 22 February 2022. Gartner, “Magic Quadrant for Customer Service BPO”, Deborah Alvord, et al, 28 March 2022. GARTNER and MAGIC QUADRANT are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner’s research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose

IT Products

• IT Products segment revenue for the quarter was Rs 1.2 billion ($15.8 million¹)
• IT Products segment results for the quarter was a loss of Rs 0.02 billion ($0.29 million¹)
• IT Products segment revenue for the year was Rs 6.2 billion ($81.4 million¹)
• IT Products segment results for the year was a profit of Rs 0.12 billion ($1.5 million¹)

India business from State Run Enterprises (ISRE)

• India SRE segment revenue for the quarter was Rs 1.9 billion ($24.6 million¹)
• India SRE segment results for the quarter was a profit of Rs 0.17 billion ($2.3 million¹)
• India SRE segment revenue for the year was Rs 7.3 billion ($96.2 million¹)
• India SRE segment results for the year was a profit of Rs 1.2 billion ($15.5 million¹)

Please refer to the table at the end for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.

About Non-GAAP Financial Measures

This press release contains non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS.

The table at the end provides IT Services Revenue on a constant currency basis, which is a non-GAAP financial measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. We refer to growth rates in constant currency so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Further, in the normal course of business, we may divest a portion of our business which may not be strategic. We refer to the growth rates in both reported and constant currency adjusting for such divestments in order to represent the comparable growth rates.

This non-GAAP financial measure is not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, the most directly comparable financial measure calculated in accordance with IFRS and may be different from non-GAAP measures used by other companies. In addition to this non-GAAP measure, the financial statements prepared in accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated.

Results for the Quarter and Year ended March 31, 2022, prepared under IFRS, along with individual business segment reports, are available in the Investors section of our website www.wipro.com

Quarterly Conference Call

We will hold an earnings conference call today at 07:30 p.m. Indian Standard Time (10:00 a.m. U.S. Eastern Time) to discuss our performance for the quarter. The audio from the conference call will be available online through a web-cast and can be accessed at the following link- https://links.ccwebcast.com/?EventId=WIP290422

An audio recording of the management discussions and the question-and-answer session will be available online and will be accessible in the Investor Relations section of our website at www.wipro.com

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 240,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

1. For the convenience of the readers, the amounts in Indian Rupees in this release have been translated into United States Dollars at the certified foreign exchange rate of US$1 = Rs 75.87, as published by the Federal Reserve Board of Governors on March 31, 2022. However, the realized exchange rate in our IT Services business segment for the quarter ended March 31, 2022 was US$1= Rs 75.91
2. Constant currency revenue for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period
3. IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials

WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Rs in millions, except share and per share data, unless otherwise stated)
			As at March 31, 2021		As at March 31, 2022
							Convenience translation into US dollar in millions Refer footnote 1
ASSETS
Goodwill			139,127		246,989		3,255
Intangible assets			13,085		43,555		574
Property, plant and equipment			85,192		90,898		1,198
Right-of-Use assets			16,420		18,870		249
Financial assets
Derivative assets			16		6		^
Investments			10,576		19,109		252
Trade receivables			4,358		4,765		63
Other financial assets			6,088		6,084		80
Investments accounted for using the equity method			1,464		774		10
Deferred tax assets			1,664		2,298		30
Non-current tax assets			14,323		10,256		136
Other non-current assets			15,935		14,826		195
Total non-current assets			308,248		458,430		6,042
Inventories			1,064		1,334		18
Financial assets
Derivative assets			4,064		3,032		40
Investments			175,707		241,655		3,185
Cash and cash equivalents			169,793		103,836		1,369
Trade receivables			94,298		115,219		1,519
Unbilled receivables			27,124		60,809		801
Other financial assets			7,245		42,914		566
Contract assets			16,507		20,647		272
Current tax assets			2,461		2,373		31
Other current assets			24,923		28,933		381
Total current assets			523,186		620,752		8,182
TOTAL ASSETS			831,434		1,079,182		14,224
EQUITY
Share capital			10,958		10,964		145
Share premium			714		1,566		21
Retained earnings			466,692		551,252		7,266
Share-based payment reserve			3,071		5,258		69
Special Economic Zone Re-investment reserve			41,154		47,061		620
Other components of equity			30,506		42,057		554
Equity attributable to the equity holders of the Company			553,095		658,158		8,675
Non-controlling interests			1,498		515		7
TOTAL EQUITY			554,593		658,673		8,682
LIABILITIES
Financial liabilities
Loans and borrowings			7,458		56,463		744
Lease liabilities			13,513		15,177		200
Derivative liabilities			-		48		1
Other financial liabilities			2,291		2,961		39
Deferred tax liabilities			4,633		12,141		160
Non-current tax liabilities			11,069		17,818		235
Other non-current liabilities			7,835		7,571		100
Provisions			2		1		^
Total non-current liabilities			46,801		112,180		1,479
Financial liabilities
Loans, borrowings and bank overdrafts			75,874		95,233		1,255
Lease liabilities			7,669		9,056		119
Derivative liabilities			1,070		585		8
Trade payables and accrued expenses			76,512		99,034		1,305
Other financial liabilities			1,470		33,110		436
Contract liabilities			22,535		27,915		368
Current tax liabilities			17,324		13,231		174
Other current liabilities			24,552		27,394		361
Provisions			3,034		2,771		37
Total current liabilities			230,040		308,329		4,063
TOTAL LIABILITIES			276,841		420,509		5,542
TOTAL EQUITY AND LIABILITIES			831,434		1,079,182		14,224
^ Value is less than 1

WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME
(Rs in millions, except share and per share data, unless otherwise stated)
			Three months ended March 31,									Year ended March 31,
			2021			2022			2022			2021			2022			2022
									Convenience translation into US dollar in millions Refer footnote 1									Convenience translation into US dollar in millions Refer footnote 1
Revenues			162,454			208,600			2,749			619,430			790,934			10,425
Cost of revenues			(109,805	)		(147,965	)		(1,950	)		(423,205	)		(555,872	)		(7,327	)
Gross profit			52,649			60,635			799			196,225			235,062			3,098
Selling and marketing expenses			(10,679	)		(14,078	)		(185	)		(41,400	)		(54,935	)		(724	)
General and administrative expenses			(8,689	)		(12,528	)		(165	)		(34,686	)		(46,382	)		(611	)
Foreign exchange gains/(losses), net			886			1,075			14			2,995			4,355			57
Other operating income/(loss), net			-			7			^			(81	)		2,186			29
Results from operating activities			34,167			35,111			463			123,053			140,286			1,849
Finance expenses			(1,122	)		(1,717	)		(23	)		(5,088	)		(5,325	)		(70	)
Finance and other income			4,447			3,946			52			20,912			16,257			214
Share of net profit/ (loss) of associates accounted for using the equity method			4			(16	)		^			130			57			1
Profit before tax			37,496			37,324			492			139,007			151,275			1,994
Income tax expense			(7,755	)		(6,399	)		(84	)		(30,345	)		(28,946	)		(382	)
Profit for the period			29,741			30,925			408			108,662			122,329			1,612
Profit attributable to:
Equity holders of the Company			29,721			30,873			407			107,946			122,191			1,610
Non-controlling interests			20			52			1			716			138			2
Profit for the period			29,741			30,925			408			108,662			122,329			1,612
Earnings per equity share:
Attributable to equity holders of the Company
Basic			5.39			5.64			0.07			19.11			22.35			0.29
Diluted			5.38			5.63			0.07			19.07			22.29			0.29
Weighted average number of equity shares
used in computing earnings per equity share
Basic			5,510,335,838			5,470,020,412			5,470,020,412			5,649,265,885			5,466,705,840			5,466,705,840
Diluted			5,524,619,810			5,486,955,729			5,486,955,729			5,661,657,822			5,482,083,438			5,482,083,438
^ Value is less than 1

Additional Information:

Particulars	Three months ended						Year ended
	March 31, 2022		December 31, 2021		March 31, 2021		March 31, 2022		March 31, 2021
	Audited		Audited		Audited		Audited		Audited
Revenue
IT Services
Americas 1	58,342		56,644		46,510		217,874		178,091
Americas 2	63,963		61,076		46,475		239,404		179,821
Europe	60,743		59,620		45,107		233,443		165,441
APMEA	23,560		23,596		20,825		91,103		82,462
Total of IT Services	206,608		200,936		158,917		781,824		605,815
IT Products	1,201		1,767		2,117		6,173		7,685
ISRE	1,868		1,623		2,302		7,295		8,912
Reconciling Items	(2	)	(3	)	4		(3	)	13
Total Revenue	209,675		204,323		163,340		795,289		622,425
Other operating income/(loss), net
IT Services	7		14		-		2,186		(81	)
Total Other operating income/(loss), net	7		14		-		2,186		(81	)
Segment Result
IT Services
Americas 1	11,530		11,390		9,863		42,820		33,040
Americas 2	12,150		12,057		10,500		47,376		41,589
Europe	9,056		9,172		8,704		35,739		31,673
APMEA	1,946		2,483		3,074		10,523		11,476
Unallocated	361		173		1,257		434		5,153
Other operating income/(loss), net	7		14		-		2,186		(81	)
Total of IT Services	35,050		35,289		33,398		139,078		122,850
IT Products	(22	)	96		145		115		45
ISRE	171		134		587		1,173		1,061
Reconciling Items	(88	)	16		37		(80	)	(903	)
Total Segment result	35,111		35,535		34,167		140,286		123,053
Finance expenses	(1,717	)	(1,403	)	(1,122	)	(5,325	)	(5,088	)
Finance and Other Income	3,946		3,578		4,447		16,257		20,912
Share of net profit/ (loss) of associates accounted for using the equity method	(16	)	76		4		57		130
Profit before tax	37,324		37,786		37,496		151,275		139,007

The Company is organized into the following operating segments: IT Services, IT Products and India State Run Enterprise segment (ISRE).

IT Services: As announced on November 12, 2020, effective January 1, 2021, the Company re-organized IT Services segment to four Strategic Market Units (“SMUs”) - Americas 1, Americas 2, Europe and Asia Pacific Middle East Africa (“APMEA”).

Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.

Americas 1 includes Healthcare and Medical Devices, Consumer Goods and Lifesciences, Retail, Transportation and Services, Communications, Media and Information services, Technology Products and Platforms, in the United States of America and entire business of Latin America (“LATAM"). Americas 2 includes Banking, Financial Services and Insurance, Manufacturing, Hi-tech, Energy and Utilities industry sectors in the United States of America and entire business of Canada. Europe consists of United Kingdom and Ireland, Switzerland, Germany, Benelux, Nordics and Southern Europe. APMEA consists of Australia and New Zealand, India, Middle East, South East Asia, Japan and Africa.

IT Products: The Company is a value-added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to the above items is reported as revenue from the sale of IT Products.

India State Run Enterprise segment (ISRE): This segment consists of IT Services offerings to entities/ departments owned or controlled by the Government of India and/ or any State Governments.

Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT Services Revenue as per IFRS ($Mn)

Three Months ended March 31, 2022
IT Services Revenue as per IFRS	$	2,721.7
Effect of Foreign currency exchange movement	$	(1.3	)
Non-GAAP Constant Currency IT Services Revenue based on previous quarter exchange rates	$	2,720.4
Three Months ended March 31, 2022
IT Services Revenue as per IFRS	$	2,721.7
Effect of Foreign currency exchange movement	$	43.2
Non-GAAP Constant Currency IT Services Revenue based on exchange rates of comparable period in previous year	$	2,764.9
Year ended March 31, 2022
IT Services Revenue as per IFRS	$	10,355.9
Effect of Foreign currency exchange movement	$	(33.0	)
Non-GAAP Constant Currency IT Services Revenue based on exchange rates of comparable period in previous year	$	10,322.9

 

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Contact for Investor Relations

Aparna Iyer

Phone: +91-80-6142 7139

iyer.aparna@wipro.com

Abhishek Kumar Jain

Phone: +91-80-6142 6143

abhishekkumar.jain@wipro.com

Contact for Media & Press

Purnima Burman

Phone: +91-80-6142 6450

purnima.burman@wipro.com

Source: Wipro Limited

FAQ

What were Wipro's financial results for the year ending March 31, 2022?

Wipro reported a gross revenue of Rs 790.9 billion ($10.4 billion), a 27.7% increase YoY, with net income of Rs 122.2 billion ($1.6 billion), up 13.2% YoY.

How much did Wipro's EPS grow in the fiscal year 2022?

Wipro's earnings per share grew 17.0% YoY to Rs 22.35 ($0.291) for the year ending March 31, 2022.

What is the revenue outlook for Wipro for the quarter ending June 30, 2022?

Wipro expects IT Services revenue to be in the range of $2,748 million to $2,803 million, reflecting a sequential growth of 1% to 3%.

What was the IT Services operating margin for Wipro in FY2022?

Wipro's IT Services operating margin for the year was 17.7%, a decrease of 254 basis points compared to the previous year.

How did Wipro perform in terms of revenue growth compared to the previous year?

Wipro achieved a gross revenue growth of 27.7% YoY, driven by strong performance in its IT Services segment.