Wipro Q2 Review - Strong Performance, Robust Outlook Backed By Efficient Execution: Axis Securities
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Axis Securities Report
Wipro Ltd. delivered an excellent performance on all fronts with revenue at Rs 19,667 crore, up 8.1% QoQ and 30% YoY in constant currency terms.
While operating profit represented a growth of 30.8% YoY at Rs 3,492 crore, operating margin de-grew by 180 basis points and stood at 17.7% QoQ, aided by unfavourable currency mix and wage hikes.
Net profit for the quarter reported a growth of 34% YoY as it stood at Rs 2,931 crore.
Wipro’s management gives strong Q3 FY22 guidance at 2%-4% revenue growth in constant currency terms and its commentary continues to be positive in the verticals such as banking, financial services and insurance, hi-tech media, life sciences, and communications.
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