Wipro announced its latest profit figures for the Q4 ended in March. According to the announcement, the third largest software services firm of the country, had a marginal increase in the profit figures as compared to that of last year. In Q4 of 2016-2017, it showed a profit of ₹2267 crores, the same stood at ₹2257.3 crores in the last quarter of 2015-16.
The total revenue in the same period was noted as ₹15033.8 crores whereas last year it was ₹14312.7 crores. There is an increase of over 5 percent in the revenue of Wipro which competes with companies like TCS and Infosys. Along with the profit announcement, the company also announced the move to offer bonus shares to the shareholders and added that the bonus shares will be issued within next 2 months.
The announcement of bonus share by Wipro comes at a time when companies like TCS have already announced their strategy to buyback shares to offer mega returns to their shareholders. Wipro will offer one bonus share to every one share held to encourage participation of small investors.
Talking of yearly numbers, Wipro had 5% decline in the profit, whereas the total revenue increased by 7.4 percent. The company, which gets highest amount of its revenue from IT services, had a revenue of ₹57,995 crores in the year ended march 2017 with profit of ₹8,518 crores.