Wipro: Weak guidance eclipses a good Q4

Buyback, bonus announcements, though, could provide some support to the stock price

Sheetal Agarwal  |  Mumbai 

Backed by revenue contribution from the Appirio (US-based) buyout, Wipro managed to deliver in-line constant currency revenue growth of 1.7% on a sequential basis for the March quarter (Q4). Healthy growth in key verticals of finance solutions, manufacturing and technology and consumer businesses fuelled revenues of the company in Q4. Among other positives is operating profit margin, which at 18.3% came in higher than Street expectations of 17-17.7%. While the number was stable on a sequential basis, it was aided by higher employee utilisations as well as healthy revenue growth. Both ...

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Wipro: Weak guidance eclipses a good Q4

Buyback, bonus announcements, though, could provide some support to the stock price

Backed by revenue contribution from the Appirio (US-based) buyout, Wipro managed to deliver in-line constant currency revenue growth of 1.7 per cent on a sequential basis for the March quarter (Q4). Healthy growth in key verticals of finance solutions, manufacturing and technology and consumer business fuelled revenues of the company in Q4. Among other positives is operating profit margin, which at 18.3 per cent came in higher than street expectations of 17 to 17.7 per cent. While the number was stable on a sequential basis, it was aided by higher employee utilisations as well as healthy revenue growth. Both its key markets namely the US and Europe also grew at a healthy clip in Q4 and aided top line. Lastly, its net profit grew 7 per cent sequentially to Rs 2,261 crore and was well ahead of Bloomberg consensus estimate of Rs 2,123 crore aided by lower interest costs as well as tax rates. However, investors should take note of the headwinds at the industry (visa issues, etc) as well .. Backed by revenue contribution from the Appirio (US-based) buyout, Wipro managed to deliver in-line constant currency revenue growth of 1.7% on a sequential basis for the March quarter (Q4). Healthy growth in key verticals of finance solutions, manufacturing and technology and consumer businesses fuelled revenues of the company in Q4. Among other positives is operating profit margin, which at 18.3% came in higher than Street expectations of 17-17.7%. While the number was stable on a sequential basis, it was aided by higher employee utilisations as well as healthy revenue growth. Both ... image
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