Wipro Q1 Review - Strong Performance, Guidance: Prabhudas Lilladher

Entrance of Wipro Ltd.’s headquarters in Bengaluru, India. (Source: BloombergQuint)

Wipro Q1 Review - Strong Performance, Guidance: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

Wipro Ltd.'s IT services revenue of $2.41 billion, 12.2% QoQ U.S. dollar, surpassed top end of the guidance by ~200 basis points driven by strong growth in organic (4.9% QoQ U.S. dollar) as well as inorganic Capco business. (~$157 million).

New management’s focus and aggression towards growth is clearly visible given strong revenue guidance of 5-7% QoQ constant currency on top of strong Q1 implying ~26% FY22 growth.

Wipro closed eight large deals with total contract value of over $715 million.

TCV was lower than last two quarters due to absence of large or mega deals.

However, management is confident of strong demand environment with quality of pipeline improving every quarter.

Click on the attachment to read the full report:

Prabhudas Lilladher Wipro Q1FY22 Result Update.pdf

DISCLAIMER

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.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.