Wipro Q4 net up 38%, announces ₹10,500cr buyback plan

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Wipro saw its net profit increasing by 12.6% to ₹9,017.9 crore, while revenue from operations was up 7.5% to ₹58,584.5 crore.

IT services giant Wipro on Tuesday said its net profit increased by 38.4% to ₹2,493.9 crore in the March 2019 quarter, and announced a ₹10,500 crore buyback programme.

The Bengaluru-based company had posted a net profit of ₹1,800.8 crore in the January-March 2018 period, Wipro said in a BSE filing. Its revenue from operations – under IND AS accounting norms – grew 8.9% to ₹15,006.3 crore in the period under review from ₹13,768.6 crore in the year-ago period.

For the full fiscal (2018-19), Wipro saw its net profit increasing by 12.6% to ₹9,017.9 crore, while revenue from operations was up 7.5% to ₹58,584.5 crore.

The Wipro board has also approved a ₹10,500 crore buyback plan under which it will buy back up to 32.3 crore shares at ₹325 apiece, the filing added.

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