Wipro Q3 Review: Beats Estimates; But Still Not Out Of Woods, Says Dolat Capital 
A person walks in the Wipro office in Bangalore. (Photograph: Nishant Sharma/BloombergQuint)

Wipro Q3 Review: Beats Estimates; But Still Not Out Of Woods, Says Dolat Capital 

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.

Dolat Capital Report

Wipro Ltd. reported 3.4% QoQ constant currency revenue growth (our estimate 3.1%) led by volume led broad-based growth across verticals(five verticals grew 4% sequentially).

Surprisingly, operating profit margin improved by 240 basis points QoQ for IT services at 21.7% (our estimate 19.1%) led by incremental off-shoring and continued cost control. The company announced a dividend of Re 1 per share.

Despite encouraging ‘ qualitative’ commentary and double-digit growth in the order book, quarterly guidance remained the same at 1.5% to 3.5% QoQ for Q4 FY21.

Implying a 2% CC decline for FY21 which does not suggest any major acceleration as such.

Click on the attachment to read the full report:

Dolat Capital Wipro Q3FY21 Result Update.pdf


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