Wipro Q1 Results Today

Wipro Q1 Results Today: IT major Wipro Limited is expected to report a single-digit drop in year-on-year. Here are five things to look out for during Wipro’s Q1 results

Wipro Q1 Result Preview: Information technology (IT) major Wipro Limited is expected to report a single-digit drop in year-on-year (YoY) profit on a double-digit rise in sales. The growth for the quarter is expected to be soft due to seasonal headwinds and moderation in demand.

Key factors that investors will closely monitor are revenue and margin outlook for FY23, demand outlook amid macro headwinds, outlook on engineering research and development, vertical growth guidance, large deal wins or pipeline, margin trajectory given supply-side pressures, and commentary on any future M&A activities.

Wipro Q1 preview: Profit may decline 2-5% YoY; Q2 CC revenue guidance likely at 2.5-4.5%

Profit After Tax/ Net Profit

The Bengaluru-based company is expected to report a consolidated PAT of Rs 2,900–3,000 crore for the quarter, with consolidated revenue in the range of Rs 21,300–21,700 crore, according to a report by Kotak Securities. The company clocked a PAT of Rs 3,232 crore during the same period last year on revenues of Rs 18,252 crore.

Kotak Institutional Securities also sees Wipro guiding for 2.5-4.5 percent revenue growth for the September quarter in CC terms. This includes a 1.2 percent contribution from the Rising acquisition, it said, while suggesting organic growth guidance of 1.5-3.5 percent.

The IT major had guided for 1-3 percent QoQ revenue growth in CC terms, excluding Rising contribution.

Wipro Q1 Results: Profit falls 21% YoY to Rs 2,563 cr; firm pegs Q2 revenue guidance at 3-5%

Margins

As witnessed in the past few quarters, supply-side pressures continue to dent the margins of Indian IT companies and Wipro, too, will continue to feel the heat with the rise in wages and travel costs. A weaker Indian rupee, however, will likely cushion the impact on margins to a certain extent.

The earnings before interest and tax (EBIT) margins are likely to contract between 200-250 bps year on year and by 30-100 bps on quarter.

EBIT margin of most IT service companies to decline sequentially, owing to higher retention costs, wage revision, visa costs, and rising travel expenses. Rupee depreciation is expected to offset headwinds partially, ShareKhan noted.

Revenue Guidance

Brokerages expect the company to provide revenue guidance of 3-5 percent CC growth on a sequential basis including two months of Rising acquisition.

Wipro Q1 net profit tanks 21% to ₹2,563.6 cr, misses Street estimates

“Expect Wipro to guide for 2.5-4.5 percent growth in CC on a sequential basis, which includes 1.2 percent contribution from Rising acquisition, and we expect an organic growth guidance of 1.5-3.5 percent,” the Kotak Institutional Equities report said.

Motilal Oswal said that the growth in Q1FY23 should remain within the management’s guidance band provided in Q4FY22. It expects demand commentary to remain strong and sees margin will be impacted by wage hikes and continued investments in Q1FY23.

Constant currency revenue

Brokerages expect the company to achieve a constant currency (CC) revenue growth of between 1 and 2.5 percent, which will be in keeping with the guidance provided during the previous quarter.

Cross-currency movements remain adverse, which may weigh on reported dollar revenue and margins, Emkay Global said.

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Its total revenue came in at Rs 15,470.5 crore in the third quarter of the current financial year, as against Rs 15,125.6 crore in the July-September period.

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Prev. Close. 393.85 ; Open Price. 398.30 ; Day’s High. 405.50 ; Day’s Low. 396.70.

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