Wipro507685Information technology services
Wipro reported Q2 results with flat constant currency growth, improved IT services margins but softer large deal bookings; Kotak maintained a buy and hiked target price
By ScoutQuest · · 1 min read
- Revenue growth
- 8%
- EBIT
- 6.97 crore rupees
- Margin decline
- 100 basis points
- Net profit decline
- 27%
- Total bookings
- 2.6 billion dollars
Heard on business television between 08:27:36 - 08:30:36 IST.
- Revenue growth came in at about 8%, EBIT rose 1.5% to 6.97 crore rupees, with margins down about 100 basis points to sub-15%, and net profit down 27%.
- Total bookings came in at 2.6 billion dollars, down 23%, though expected to improve going forward; large deal bookings softened to 674 million dollars due to client-side paperwork delays, which CEO Srini Palia said would be booked in Q3.
- Kotak called it a reasonable quarter, said DLTCV moderated but is enough to sustain near-term growth, and maintained buy with a hiked target price.
- CEO Srini Palia said Q3 guidance of -1.5% to +0.5% reflects seasonal lows and fewer working days, and expects H2 FY27 to be better than H1.
- CFO Aparna Iyer flagged healthcare under pressure in US and Europe due to client-specific issues and policy changes affecting affordable care enrollment; company plans larger hiring in H2 after onboarding about 1,000 people in H1, targeting 7,500 hires for the fiscal year, with inorganic strategy continuing to align with consulting-led, AI-powered approach.
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