Wipro is trading higher by nearly 2% at Rs 516 on BSE ahead of its July-September quarter earnings (Q2) today. The stock opened at Rs 512 and touched high of Rs 518 so far. The benchmark index however, down marginally 0.1% at 1337 hours.
Analyst on an average expecting 11% quarter-on-quarter (qoq) jump in consolidated net profit at Rs 1,803 crore and 12.8% qoq growth in consolidated revenue at Rs 10,970 crore from the India’s third largest information technology (IT) outsourcer, in rupee terms.
Wipro to continue to be a laggard and likely to post 2% QoQ US dollar (USD) revenue. EBITDA margin estimated to improve marginally by 60bps QoQ due to currency benefit partially offset by two months impact of wage hikes, says analyst at Edelweiss Securities in results preview.
We expect 159bps adverse impact on US$ revenue due to higher exposure to Indian rupee (INR) and Australian dollar against USD in Q2. We expect 90bps expansion in EBIT margin due to INR depreciation after factoring 2 months' wage hike (120bps),” says analyst at IDBI Capital in a note.
Meanwhile, most of the frontline IT companies have surprised the street by reporting better than expected Q2 earnings for the recently concluded quarter.
Analyst on an average expecting 11% quarter-on-quarter (qoq) jump in consolidated net profit at Rs 1,803 crore and 12.8% qoq growth in consolidated revenue at Rs 10,970 crore from the India’s third largest information technology (IT) outsourcer, in rupee terms.
Wipro to continue to be a laggard and likely to post 2% QoQ US dollar (USD) revenue. EBITDA margin estimated to improve marginally by 60bps QoQ due to currency benefit partially offset by two months impact of wage hikes, says analyst at Edelweiss Securities in results preview.
We expect 159bps adverse impact on US$ revenue due to higher exposure to Indian rupee (INR) and Australian dollar against USD in Q2. We expect 90bps expansion in EBIT margin due to INR depreciation after factoring 2 months' wage hike (120bps),” says analyst at IDBI Capital in a note.
Meanwhile, most of the frontline IT companies have surprised the street by reporting better than expected Q2 earnings for the recently concluded quarter.
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