Wipro - Q2FY14 Result Preview - Angel Broking

Wipro is slated to announce its 2QFY2014 results today. We expect the company's IT services segment to post revenues of US$1,637mn, up 3.0% qoq. Volume growth is expected to be ~3.3% qoq. At the consolidated level, we expect the company to record revenues of Rs. 11,281cr, up 16% qoq, aided by sharp INR depreciation. At a consolidated level, Wipro is expected to record ~74bp qoq inch up in its EBIT margin to 18.9%. PAT is expected to come in at Rs. 1,907cr.

We maintain our Buy rating on the stock with a target price of Rs. 580.

Source : Equity Bulls

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