Wipro Q1 Review - Results Beat; Guidance Robust; To Prioritise On Growth Over Margin: Dolat Capital
Employees enter a Wipro Ltd. office building in the Electronic City area of Bengaluru, India. (Photographer: Dhiraj Singh/Bloomberg)

Wipro Q1 Review - Results Beat; Guidance Robust; To Prioritise On Growth Over Margin: Dolat Capital

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Dolat Capital Report

Wipro Ltd. reported 12% QoQ constant currency growth (our estimate: 10%) led by robust growth momentum across business units, driving organic revenue growth of 4.9% QoQ.

IT services operating profit margin stood at 18.8% down 222 basis points QoQ (our estimate: 18.7%) led by lower than expected wage hike impact and growth leverage.

Encouraging quarterly guidance for Q2 at 5%-7%, implies sustained traction although half of this growth is expected to come inorganically.

Added new total contract value of $750 million much softer than past run rate as did not see any mega-size deal addition in the quarter.

The growth confidence is also led by strengthening of leadership in last two to three quarters.

Click on the attachment to read the full report:

Dolat Capital Wipro Q1FY22 Result Update.pdf

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