Q3FY23 Result Update - Wipro Ltd - ICICI Direct

Wipro reported weak Q3 results on the revenue front.

- IT services grew 0.6% QoQ in CC terms and 0.2% QoQ in dollar terms

- IT services EBIT margins improved 120 bps QoQ to 16.3%

- Reported TCV of US$4.3 billion (bn), up 26% YoY

Key triggers for future price performance

- TCV for the quarter was at US$4.3 bn. Sustainability of the same in the subsequent quarters will likely provide revenue visibility for FY24

- The company announced key leadership changes in focus areas of America 2, Middle East, Japan & Australia and will likely provide a fillip to revenue growth in the regions

- Higher penetration in Europe, client mining, acquisition of new logos and traction digital revenues to further boost revenue growth

For details, click on the link below: Link to the report

Shares of Wipro Limited was last trading in BSE at Rs. 398.65 as compared to the previous close of Rs. 393.65. The total number of shares traded during the day was 303033 in over 7139 trades.

The stock hit an intraday high of Rs. 400.90 and intraday low of 389.80. The net turnover during the day was Rs. 120360874.00.

Source : Equity Bulls

Keywords

Wipro INE075A01022 WIT Q3FY23 ResultUpdate Report ICICIDirect