Wipro

Wipro announced an interim dividend of Rs 1 per share. Wipro on January 13 reported a 2.82 percent growth in its consolidated net profit for the quarter ended December 2022 (Q3FY23) at Rs 3,052.9 crore as against Rs 2,969 crore recorded a year ago. Its consolidated revenue from operations stood at Rs 23,229 crore, up 14.35 percent against Rs 20,313.6 crore in the corresponding quarter last year, Wipro said in an exchange filing. According to a poll of brokerages, consolidated revenue was expected at Rs 23,436 crore, registering 14.7 percent year-on-year (YoY) growth, while consolidated profit after tax was estimated to be flat at Rs 2,952 crore. These numbers indicated likely sequential growth of 3.5 percent for revenue and 11 percent for net profit. The company announced an interim dividend of Rs 1 per share. Wipro has set January 25, 2023, as the record date. The payment will be made on or before February 10, 2023. Constant currency IT Services segment revenue was … [Read more...] about Wipro Q3: Firm’s net profit rises 3% to Rs 3,053 crore, meets estimates

One of the key growth strategies of Wipro has been its inorganic moves to acquire end-to-end capabilities in consulting, digital, cloud, and IT transformation services (Illustration by Suneesh K.) PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Highlights Revenue performance tepid, guidance muted Uptick in margin, expects it to sustain Order flow robust, disconnect between ordering and execution Attrition falling, net hiring negative Macro slowdown showing up in multiple pockets, earnings trajectory to remain uninspiring Wipro (CMP: Rs 394, Market Cap: Rs 216,131 crore) has delivered its Q3 performance wherein revenues and guidance were tepid although margin improvement and order inflows surprised on the upside. We are unable to solve the puzzle of higher bookings not translating into … [Read more...] about Better be cautious on Wipro after Q3 FY23

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × YES Securities' research report on Wipro Wipro (WPRO) reported mixed financial performance for the quarter. The revenue growth was below expectation(cc growth of 0.6% QoQ), EBIT margin came in slightly above estimates. The sequential growth was led by Healthcare & Life Sciences vertical (up 5.5% QoQ) and Energy, Natural Resources & Utilities vertical (up 2.0% QoQ). The INR reported growth was supported by depreciation of INR by 2.9% QoQ vs USD. There was sequential improvement in EBIT margin(up 165bps QoQ) led by falling attrition, improving pyramid and INR depreciation. The moderation in employee attrition continues as LTM attrition was down 180 bps QoQ to 21.2%. Outlook We maintain our NEUTRAL rating on the stock with revised target price of Rs 432/share at 18.0x on … [Read more...] about Neutral Wipro; target of Rs 432: YES Securities

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Emkay Global Financial's research report on Wipro Wipro posted mixed operating performance in Q3. Margins came in above estimates, while Q3 revenue and Q4 growth guidance missed our expectations. Revenue growth in Q3 was impacted by furloughs, softness in discretionary spending, and delay in deal ramp-ups and revenue conversion because of macro uncertainties. Management highlighted pockets of weakness in retail, particularly in America, and technology verticals. Management remains cautiously optimistic about growth prospects and is closely monitoring the possible impact of macro uncertainties on demand and revenue conversion. Wipro reported a strong overall deal win TCV of USD4.3bn (up 26% YoY; includes 11 large deals with combined TCV of >USD1bn) translating into a book-to-bill ratio of … [Read more...] about Buy Wipro; target of Rs 470: Emkay Global Financial

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Motilal Oswal's research report on Wipro WPRO reported 3QFY23 IT Services revenue growth of 0.6% QoQ CC (in line) due to weak macro and furloughs. Despite the easy 3Q comp (among the weakest topline growth in our large cap IT services coverage) and strong order intake (USD4.3b, 1.5x book-to-bill), WPRO has guided for a muted 4Q USD CC revenue growth of -0.6% to 1.0% QoQ. Q3 EBIT margin in IT Services was up 120bp QoQ to 16.3%, ahead of our expectation of 15.4% due to better employee cost control and the reversal of one-off costs incurred last quarter. We were disappointed by WPRO’s weak implied 4QFY23 revenue growth guidance, given the continued strength in deal momentum over the last few quarters. Management indicated that near-term deal conversion was affected by slower decision-making … [Read more...] about Neutral Wipro; target of Rs 380: Motilal Oswal

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × ICICI Direct's research report on Wipro Wipro is an IT, consulting & BPO player catering to BFSI, health, consumer, energy & utility, technology and communication. With over 230000 employees, it serves clients across six continents • Consistent payout (~70%), healthy OCF to EBITDA ratio of ~89%. Outlook We change our rating on the stock from HOLD to BUY. We value Wipro at Rs 455 i.e., 16x P/E on FY25E EPS. For all recommendations report, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Wipro - 16 -01-2023 - … [Read more...] about Buy Wipro; target of Rs 455: ICICI Direct

Representative image (Source: Reuters) India’s top four IT companies hired 1,940 employees on a net basis in the third quarter of FY23, down 93 percent from the previous quarter. The net addition by Tata Consultancy Services, Infosys, Wipro, and HCLTech had fallen 45 percent to 28,836 employees in the second quarter from the first quarter, when 52,842 employees were recruited. The declining trend in headcount addition comes as the IT sector faces a cautionary demand environment, a challenging environment in certain verticals in major markets such as North America and Europe, and a slowdown in discretionary spends. Although a slowing hiring trend is often considered an indicator of easing demand, top executives of IT companies maintained this is not the case. TCS said its headcount dropped by 2,197 employees from the previous quarter, while Wipro said there was a reduction of 435 employees . This was the first time in 10 quarters that the headcount at the … [Read more...] about TCS, Infosys, Wipro, HCLTech net employees addition drops 93% in Q3FY23

NITES President Harpreet Singh Saluja said employees who were given offer letters on or before February 2022 and were awaiting onboarding, have been informed that their last date is January 2023. (Image Credits: SourceCon) Days after Wipro confirmed that it let go of 452 freshers for performing poorly on internal assessments after delaying onboarding, an employee organisation has said it will be submitting a complaint to the labour department for an inquiry. The Nascent Information Technology Employees Senate (NITES), a union of IT employees, said that it 'strongly condemns the unethical layoffs done by Wipro.' "For a year these employees were struggling to join the company despite clearing interviews, trainings, assessments and internships. The company has not paid a single rupee to these employees and fired them illegally. We will be submitting a complaint to the Labour Authorities to conduct an enquiry," NITES President Harpreet Singh Saluja said. Saluja said that … [Read more...] about Employee union to approach labour department over Wipro terminating offers of 452 freshers

NITES President Harpreet Singh Saluja said employees who were given offer letters on or before February 2022 and were awaiting onboarding, have been informed that their last date is January 2023. (Image Credits: SourceCon) An employee union has written to the labour department for an inquiry on Wipro , days after the company confirmed that it let go of 452 freshers for performing poorly on internal assessments after delaying onboarding. In its letter to the labour department, The Nascent Information Technology Employees Senate (NITES), a union of IT employees, said it was 'seeking prompt intervention’ in the matter against Wipro. Earlier today, NITES had stated that it 'strongly condemns the unethical layoffs done by Wipro' and will be submitting a complaint to the labour department for an inquiry. "These students and employees have rejected offers from other companies keeping their faith in Wipro that someday the company will hire them. Not a single rupee has been given … [Read more...] about Wipro: Employee union writes to labour dept over firm terminating offers of 452 freshers

AWS is a subsidiary of Amazon that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments (Representative Image) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Technology services and consulting company Wipro, on November 30 announced that it is an official launch partner for Amazon Security Lake from Amazon Web Service (AWS). AWS is a subsidiary of Amazon that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments. Amazon Security Lake allows customers to build a security data lake from integrated cloud and on-premises data sources as well as from their private applications, according to the company release. "It reduces the complexity and costs for customers to make their security solutions data accessible to address many security use cases … [Read more...] about Wipro to be official launch partner for new AWS cyber security data lake service