Wipro Q2 Review - Ahead Of Guidance: IDBI Capital
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IDBI Capital Report
Wipro Ltd.'s Q2 FY22 IT service revenue growth of 8.1%/28.8% QoQ/YoY in constant currency was ahead of the top-end of guided range.
Consolidated Ebit margin of 17.8%, down 105 basis points QoQ and earnings per share of Rs 5.4, down 5.6%/23.7% QoQ/YoY.
In Q2 FY22, Wipro secured nine large deals of total contract value of $580 million.
For Q2 FY22, management guided IT services revenue growth to be in the range of $2631 million to $2683 million implying a growth of up 2% to up 4% QoQ is also better than our expectation.
Wipro has registered healthy growth in revenues on organic basis. The company under new chief executive officer is on the verge of a turnaround.
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