Wipro Q4 Review - Success Of Turnaround Visible: Prabhudas Lilladher
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Prabhudas Lilladher Report
Wipro Ltd.’s Q4 FY21 performance was beat on all counts -
1. revenue grew at 3.9% QoQ US.. dollar (our estimate: 3.5%, consensus: 3.5%)
2. Ebit margin of 21%, 100 basis points beat on our estimates (our estimate: 20%, consensus: 20.5%)
3. strongest ever guidance of 2-4% QoQ constant currency revenue growth (versus our estimates of 1-3% QoQ CC) and
4. strong H2 FY21 order book of $7.2 billion, up 33% YoY.
The company’s growth trajectory has improved since last three quarters and strong organic guidance of 2-4% QoQ (our estimate:1-3%, consensus: 0-2.5%) shows sustainability.
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