Wipro clocks its best quarterly results in a decade in Q4 FY21
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Last Updated: Apr 16, 2021, 06:54 AM IST
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Wipro has forecast 2-4% growth in the quarter to June, setting the base for a double-digit expansion also likely its first in about 10 years.
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Bengaluru:
Wipro Ltd. has clocked its best quarterly results in nearly a decade in the March quarter, with profit and revenue rising 27% and 3.4%, respectively, on the back of increased deal wins.
The Bengaluru-based IT services firm has forecast 2-4% growth in the quarter to June, setting the base for a double-digit expansion also likely its first in about 10 years. The guidance is in line with the optimism shared by peers.
Wipro jumps ahead of Q4 results. Here s what analysts say
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Last Updated: Apr 15, 2021, 11:47 AM IST
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Salary hikes during the quarter may hurt margins, but a favourable currency tailwind could help offset it, to an extent, analysts said.
Wipro is scheduled to report its financial results for the January-March period later in the day.
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NEW DELHI: Even as Infosys and Tata Consultancy Services March quarter earnings failed to surprise Dalal Street, Wipro shares climbed 3 per cent on Thursday trade ahead of the company s Q4 earnings.
The IT firm is expected to clock flat QoQ growth in profit for the March quarter,through growth could still be as high as 26-32 per cent on a year-on-year (YoY) basis. Revenues are seen rising 3 per cent both on sequential and year-on-year bases. Salary hikes during the three-month period may dent the IT major s margins, but a favourable currency tailwind could help the company offset those to an exten
Infosys, Wipro see sharp pick up in growth in Q3
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Infosys, Wipro see sharp pick up in growth in Q3
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BENGALURU: Like TCS, Infosys and Wipro too have posted their best sequential growth in about nine years in the third quarter ended December.
Clients’ demands for a digital overhaul of their businesses – to mitigate disruptions of the kind they suffered during the pandemic – is leading to a surge in orders for Indian IT services companies. It’s also enabling the latter to quickly lift themselves from the early pandemic lows.
In a seasonally weak quarter, which is marked by the holiday season and furloughs, Infosys grew by 5.3% sequentially, while Wipro grew by 3.4%, which nearly met the top end of its revenue guidance for the quarter. Year-on-year growth rates are significantly better than in the first two quarters, and look to be fast heading towards pre-Covid levels.
Ideas For Profit | Why Wipro has the potential to outperform peers
Backed by strong traction in revenue, margin gains and the management’s focus on building a client-focused organisation, Wipro is in line to provide decent performance in the medium term. Here s a detailed analysis of the third-quarter performance of the IT behemoth.
Wipro Q3 Profit Rises 21% YoY, Dollar Revenue Growth Highest In 36 Quarters moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.