Wipro Q3 Review:  Robust All-Round Performance; Q4 Guidance In-Line, Says Motilal Oswal
Entrance of Wipro’s headquarters in Bengaluru, India. (Photo: BloombergQuint)

Wipro Q3 Review: Robust All-Round Performance; Q4 Guidance In-Line, Says Motilal Oswal

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Motilal Oswal Report

Wipro Ltd. reported better-than-expected revenue growth of 3.4% QoQ constant currency terms, on the higher end of the guidance band (1.5–3% QoQ CC).

Growth was broad-based across verticals, with five of seven verticals showing good QoQ growth.

The company’s continued margin improvement (up 250 basis point QoQ / up 330 basis point YoY) and strong cash generation (free cash flow/profit after tax at 133%) were the key positives in Q3.

In nine months FY21, IT Services reported revenue (U.S. dollar)/Ebit/PAT of - 3.2%/10.2%/6.9%.

Wipro reported 12 deal closures and deal total contract value of $1.2 billion in Q3, including $700 million from Metro AG.

Click on the attachment to read the full report:

Motilal Oswal Wipro Q3FY21 Result Update.pdf

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