Wipro’s second-quarter performance was significantly below the analysts’ already muted expectations. In addition, the country’s fourth largest software exporter provided a sombre outlook for the next quarter’s top line notwithstanding a sustained momentum in new deal wins.
Wipro Q2 preview: Wipros consolidated net profit may rise 10.3% on year to Rs 2,933 crore in the September quarter, according to the average of estimates given by nine brokerages, and revenue is expected to grow just 1.3% to Rs 22,828 crore. Sequentially, the topline is expected to be flat, while profit is likely to rise 2.2%, the estimates showed.
Wipro s deal TCV and pipeline will be among the key monitorables, along with the pricing and outlook on new deals. Management commentary in regard to the demand outlook of the company s consulting and mortgage businesses will also be scrutinised.
The Indian Information Technology sector is ready to kick start results season from October 11. Brokerages expect the IT sector to post tepid results in the Q2 FY24.