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Wipro Q2 Review - Strong Performance, Robust Outlook Backed By Efficient Execution: Axis Securities

Wipro Q2 Review - Strong Performance, Robust Outlook Backed By Efficient Execution: Axis Securities

An employee uses a laptop computer as another walks past while looking at a mobile device at Wipro headquarters in Bengaluru, India. (Photographer: Namas Bhojani/Bloomberg)
An employee uses a laptop computer as another walks past while looking at a mobile device at Wipro headquarters in Bengaluru, India. (Photographer: Namas Bhojani/Bloomberg)

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.

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.

Click on the attachment to read the full report:

Axis Securities Wipro-Q2FY22 Result Review.pdf

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