Mumbai16 minutes ago
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IT company Wipro has declared the results for the fourth quarter (Q4FY26) of the financial year 2025-26. On annual basis (YoY), the company’s profit has fallen by 1.87% to Rs 3,502 crore. This figure was Rs 3,569 crore in the same quarter last year.
However, compared to the previous quarter (December), there has been a recovery of more than 12% in profits. The profit in the last i.e. October-December quarter was Rs 3,119 crore. Wipro has released the results on 16th April.
Revenue increased by 10% on annual basis
- Wipro’s total revenue in the March quarter stood at Rs 24,236 crore, which is 7.69% more than the same quarter last year (Rs 22,504 crore).
- In the last quarter (December), the company’s revenue was Rs 23,555.8 crore, which has improved by 3% this time.
Wipro will buyback shares worth Rs 15,000 crore
Wipro’s board of directors has given permission to buyback shares worth Rs 15,000 crore. The company will buy these shares from investors who hold Wipro stocks till the record date. Wipro has fixed the price of Rs 250 per share for this buyback.
The company’s shares closed at Rs 210.20 on BSE on Wednesday. In this sense, the company is giving a premium price to its investors about 19% more than the current market price. This will directly benefit those shareholders who will sell their shares back to the company.
The company will buy back a total of 60 crore shares
Wipro will buy back a total of 60 crore shares. This constitutes 5.7% of the total share capital of the company. However, this buyback is yet to be approved by the company’s shareholders. Only after this its last date (record date) will be decided.
Wipro is a technology services and consulting company.
Wipro Limited is a leading technology services and consulting company. It has presence in 65 countries. Azim Premji inherited control of Wipro from his father in 1966 at the age of 21.
Premji introduced Western India Vegetable Products Limited, a soap and vegetable oil trading company, as an IT company in 1980 in collaboration with American company Sentinel Computer Corporation.
Knowledge Part: What is buyback?
Buyback means when a company buys back its shares from the market.
When and why is buyback done?
Buybacks are usually done when a company has cash. That means, with this money she buys back her shares in the market. There is no time or rule as to when it should be done or why it should be done.
It is up to the company to do so whenever it feels it has the cash. Buyback is also done because it increases the promoter’s holding in the company.
What is tender offer and record date?
Tender Offer: In this, the company sends a form to the investors and asks them if they want to sell their shares at the fixed price. It is different from open market buyback because in this the price is already fixed.
Record date: This is the date by which the shares are required to be deposited in your demat account. If you buy shares after the record date, you will not be able to avail the benefit of buyback.
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