Wipro gets thumbs up

about 7 months ago
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Unlike TCS and Infosys, which saw profit taking after the earnings announcement, Wipro is very much among the top five gainers on the BSE currently. The stock opened 2.5% higher at Rs.442 an went on to hit an intraday high at Rs.468.95, up over 8.5% and not too far from its 52-week high of Rs.474.10.

The company reported better than expected earnings, with a strong deal pipeline and robust guidance.

The company’s consolidated net profit was almost flat, rising 0.5% (QoQ) to Rs.2972 crore on a 3.5% rise in revenue from operations at Rs.16,245 crore.

Its deal wins were up 17% to $1.4 billion and it added one new client in the $100 million plus category and three more clients in the $75 million plus segment.

On the guidance front, the company said that its consolidated sales may grow 2-4% in Q1FY22 in the range of $2,195 - 2,238 million. The guidance does not include announced acquisitions of Capco and Ampion.

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