MARKETS
Benagluru-based IT services major, Wipro is set to announce its Q2FY24 results on October 17, 2023. As per Business Research inputs, PAT is expected to decline by 1.8 per cent to Rs 2,950 crore, down from Rs 3,003 crore last quarter. The company's revenue is expected at Rs 21,964 crore, up 0.8 per cent QoQ. Furthermore, IT services business segment's revenue in dollar terms is estimated at Rs 26,320 crore, reflecting a slight 0.2 per cent increase. However, EBIT (Earnings before interest and taxes) is likely to dip by 1.1 per cent to Rs 3,585 crore, with the consolidated margin declining to 16.2 per cent from 16.5 per cent, a 30 basis point decline sequentially. In the previous quarter, the consolidated EBIT came in at Rs 3,626 crore. IT services margin is projected at 16 per cent, down from 16.5 per cent last quarter. Furthermore, Business research estimates that revenue growth in constant currency or CC terms to remain steady sequentially, while the dollar revenue may see an uptick of 0.2 per cent during the review period. Also, revival in the company's consulting business is only expected to aid profitability at the IT services company. Key expectations include flat constant currency (CC) income growth and slight revenue growth of 0.2 per cent. Wipro's consulting business is expected to provide support, while a decision on bonus shares is awaited. Guidance for Q3FY25 could see CC revenue growth between 1 per cent and 2 per cent. For Q3, the company may give revenue growth guidance (CC) of 1-2 per cent. Wipro is also to mull bonus share issuance after 5 years time. Get Latest Business News , Stock Market Updates and Videos ; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Business Twitter and Facebook . Subscribe on YouTube . None
What’s New
Spotlight
Advertisement
Featured News
Latest From This Week
Popular News
