16 Oct 2023 , 05:17 PM
Result date: October 18, 2023
Recommendation: Reduce
Target price: Rs. 380
Analysts at IIFL Capital Services expect revenue to decline 1% cc on a sequential basis, closer to the lower end of the company’s guided range. IT Services EBIT margins are expected to remain flat sequentially, as decline in revenues is offset by productivity improvements. The reported margins are expected to expand by 130 basis points sequentially, driven by productivity improvement and lack of one-off losses on IT products. Analysts at IIFL Capital Services expect Wipro to guide to 0-2% cc sequential growth in Q3FY24.
Profit After Tax (PAT) could grow 5% sequentially.
Important management insights to watch out for:
September 2023 estimates |
QoQ change |
YoY change |
|
Revenue (US$ mn) |
2,742 |
(1.3)% |
(2.0)% |
Revenue (Rs. mn) |
228,044 |
(0.1)% |
0.7% |
EBIT (Rs. mn) |
37,412 |
8.4% |
15.1% |
EBIT margin |
16.4% |
130 bps |
210 bps |
Profit After Tax (Rs. mn) |
30,134 |
5.0% |
13.3% |
EPS (Rs.) |
5.7 |
10.3% |
16.6% |
Source: IIFL Research
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