Wipro Q2 earnings preview: Revenue may contract, guidance may be revised

We are going to share the news with you about Wipro’s Q2FY24 earnings may come out on a softer note thanks to the win adverse macroeconomic conditions in key markets. The organization can make a report and decline in revenue in constant currency terms while net profit can appear to increase with time (YoY). Apart from this, the company may amend its revenue guidance for Q3. On the day of Wednesday, Wipro will make an announcement about its July-September quarter scorecard along with the numbers. We will try to cover all the details about the news. Let’s continue the article.

Wipro Q2 earnings preview

Apart from this, the organization may revise its revenue guidance for Q3. The company is far from street estimates in Q1FY24. A report came out from IT that a combined net profit of  ₹2,870.1 crores in the first quarter is more than 2,563.6 crore from last year.  It has increased around 11.95 percent in the corresponding period last year. Nevertheless, revenue only increased by 6 percent per year in the single digits. We have talked about many things now shift your eyes to the next paragraph.

On the basis of the report, Sharekhan thinks Wipro can register a report of a consecutive decline of 0.4 percent in revenue in CC terms, in line with Q2 guidance of -2 percent to 1 percent. The expectation says the EBIT margin is will flat because of running planning. The operating profit can appear to be an increase of 134 bps YoY while net profit can be up around 11.4 percent YoY. 0.9 percent QoQ can be declined by Wipro’s IT services CC and it will happen with the range of -2 percent to +1 percent QoQ in CC, according to Phillip Capital. We will tell you moreover details about the news, which you will find in the next section of the article.

Furthermore, Revenue may be impacted by weakness in BFSI, Hitech verticals, and weakness in the consulting business. A 15.3 percent increment can appear per year in PAT. The brokerage firm thinks  Wipro’s IT services margin remains steady at 16.1 percent, according to expectations. Q3FY24 growth guidance, large project deals, consulting outlook, pipeline, and vertical outlook are expected in focus. We have shared all the details about the news, which we have fetched from other sources to make this article for the readers. If we get any further details we will tell you first at the same site. Stay tuned for more updates.