BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Wipro Ltd. reported 8.1% QoQ constant currency growth (our estimate: 6.0%) led by broad-based growth across verticals (4.5% QoQ organic growth).
IT services operating profit margin declined 104 basis points QoQ to 17.8% (our estimate: 17.5%) led by growth leverage.
Quarterly guidance for Q3 is at 2%-4% implying limited immediate acceleration.
The growth confidence is still positive as Wipro is seeing strong and continued demand in the market with 'huge wave' of cloud transformation to come and pipeline being at highest in recent quarters.
Large deal total contract in Q2 stood at $580 million (nine deals) which is lackluster in our view.
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