Financial Results in Focus: Wipro Limited (NYSE: WIT)

On Tuesday, Wipro Limited stock identified change of 5.13% away from 52-week low price and recently located move of -20.22% off 52-week high price. It has market worth of $19288.74M and dividend yield of 0.27%. WIT stock has been recorded -1.09% away from 50 day moving average and -10.04% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.44% off 20-day moving average.

Wipro Limited (WIT) recently reported financial results under International Financial Reporting Standards (IFRS) for its quarter ended September 30, 2019.

Highlights of the Results

Results for the Quarter ended September 30, 2019:

  • Gross Revenue was Rs. 151.3B ($2.1B1), a raise of 4.0% YoY
  • IT Services Section Revenue was at $2,048.9M, an adjusted2increase of 2.5% YoY
  • Non-GAAP3constant currency IT Services Section Revenue increased by 1.1% QoQ. Adjusted2 Non-GAAP3 constant currency IT Services Section Revenue grew 3.8% YoY
  • IT Services Operating Marginfor the quarter was at 18.1%, a raise of 3.1% YoY
  • Net Income for the quarter was Rs. 25.5B ($361.4M1), a raise of 35.1% YoY
  • EPS for the quarter was Rs. 4.3 ($0.061) per share and grew 36.7% YoY

Performance for the quarter ended September 30, 2019

Aofferali Z. Neemuchwala, CEO and Managing Director stated, “We had a good in-quarter execution on both revenues and margins. The overall growth was broad based with 6 out of 7 industry verticals growing on a YoY basis and we signed a large deal in India aligned to our strategy of taking global offerings to India consumers.”

The Technology sector company, Wipro Limited noticed change of 0.00% to $3.69 along volume of 2814088 shares in recent session compared to an average volume of 1228.89K. The stock observed return of 1.10% in 5 days trading activity. The stock was at 0.54% over one-month performance. WIT’s shares are at -10.87% for the quarter and driving a -2.57% return over the course of the past year and is now at -4.09% since this point in 2018.   The average volatility for the week at 1.97% and for month was at 1.67%. There are 5227.3M shares outstanding and 1690.84M shares are floated in market. Right now, the stock beta is 0.5.


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