loader2
NRI

Open DEMAT AND TRADING ACCOUNT WITH ICICIDIRECT

  • 02 May 2022
  • ICICIdirect Research

WIPRO LOWERS REVENUE GUIDANCE FOR Q1FY23

WIPRO - 305 Change: -0.25 (-0.08 %)

News: The company reported constant currency growth of 3.1% QoQ while rupee revenues grew by 2.9% QoQ to Rs20,553 crore. IT Products business reported decline of 32.2% QoQ to Rs119.9 crore. Consolidated revenues grew 2.8% QoQ to Rs 20,755 crore. The growth in revenues in CC was led by BFSI (up 3.4% QoQ), Consumer Business Unit (up 4.2% QoQ) and Manufacturing (up by 7.4%) while communications (down by 1.2% QoQ), Health (up by 0.3% QoQ) and Energy (up by 1.8% QoQ) were laggards. In terms of geographies, the growth was led by America, which grew 4.1%, followed by Europe (growth of 2.3% QoQ) while RoW reported decline of 0.3% QoQ. The company reported EBIT margin decline of 60% QoQ to 17%. The company closed 37 large deals in FY22 resulting into TCV of US$2.3bn. The company guiding 1-3% CC growth for Q1FY23. 

Views: The company reported constant currency growth of 3.1% QoQ while rupee revenues grew by 2.9% QoQ to Rs20,553 crore. IT Products business reported decline of 32.2% QoQ to Rs119.9 crore. Consolidated revenues grew 2.8% QoQ to Rs 20,755 crore. The growth in revenues in CC was led by BFSI (up 3.4% QoQ), Consumer Business Unit (up 4.2% QoQ) and Manufacturing (up by 7.4%) while communications (down by 1.2% QoQ), Health (up by 0.3% QoQ) and Energy (up by 1.8% QoQ) were laggards. In terms of geographies, the growth was led by America, which grew 4.1%, followed by Europe (growth of 2.3% QoQ) while RoW reported decline of 0.3% QoQ. The company reported EBIT margin decline of 60% QoQ to 17%. The company closed 37 large deals in FY22 resulting into TCV of US$2.3bn. The company guiding 1-3% CC growth for Q1FY23. 

Impact: Negative