Wipro Q1 Review - Growth Sustainability Is The Key: ICICI Securities
Wipro Bengaluru campus. (Source: BloombergQuint)

Wipro Q1 Review - Growth Sustainability Is The Key: ICICI Securities

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ICICI Securities Report

Excluding the contribution of Capco and Metro AG, we estimate organic revenue growth for Wipro Ltd. at ~2.8% QoQ (constant currency).

While this is in line with average June quarter growth for the industry before Covid-19, it is higher than Wipro’s track record.

Organic growth during the quarter was lopsided towards consumer (~14% QoQ, CC) and energy, natural resources and utilities (~12% QoQ, CC) verticals.

Revenue run-rate in some verticals, e.g. healthcare and manufacturing, remains close to pre-Covid-19 levels (March-2020).

Wage hikes still due, Ebit margin contracted ~220 basis points QoQ led by Capco integration and investments.

Click on the attachment to read the full report:

ICICI Securities Wipro Q1FY22 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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