Wipro Q3 Review: Robust All-Round Performance; Q4 Guidance In-Line, Says Motilal Oswal
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.
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:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.