At around 11.56 AM, Wipro is trading at Rs663.65 per piece up 0.7% on Sensex. The stock was near the day's high of Rs665.40 per piece earlier today.
Double-digit growth is also expected in Wipro's revenue and on the back of stellar ramp-up of large deals coupled with substantial contributions from Capco and Ampion acquisitions. Notably, Wipro is well placed to even record a double-digit upside in its net profit. Moreover, constant currency (CC) revenue growth guidance is expected to be increased going forward.
In Q1FY22, Wipro has posted a consolidated net profit of Rs3,242.6cr rising by 35.7% from Rs2,390cr a year ago same quarter. Revenue was at Rs18,252.4cr higher from Rs14,913.1cr of Q1FY21. Non-GAAP constant currency IT Services Segment Revenue increased by 12.0% QoQ and 21.3% YoY.
In the first quarter, Wipro announced that it expects IT services business revenue to be in the range of $2,535million to $2,583 million. This translates to a sequential growth of 5.0% to 7.0%.