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Prabhudas Lilladher Report
Wipro Ltd.'s IT services revenue of $2.58 billion, 8.1% QoQ constant currency, 6.9% QoQ U.S. dollar is above our and consensus estimates (our estimate: 6.6%, consensus: 6.4%).
Organic growth was also robust at 4.6% QoQ constant currency.
Capco acquisition performed well contributing $236 million to revenues from $154 million in Q1 FY22 (for two months).
Growth was broad based across verticals and markets.
Wipro signed nine large deals this quarter with total contract of around ~$580 million (versus $715 million in Q1 FY21) annual contract jumped 28% YoY in H1 FY22 while TCV grew 19% YoY in the same period.
TCV was lower on QoQ basis due to absence of large or mega deals.
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