Wipro507685Information technology services
Wipro's Q2 results were viewed as a thumbs up despite lower revenue, with Jefferies maintaining underperform but hiking target price
By ScoutQuest · · 1 min read
- EBIT
- 6.97 crore rupees
- EBIT growth
- 1.5 percent
- Margin decline
- 100 basis points
- Net profit decline
- 27 percent
- Total booking
- 2.6 billion dollars
Heard on business television between 08:27:36 - 08:30:36 IST.
- EBIT came in 1.5% higher at 6.97 crore rupees with margins down about 100 basis points, sub 15%.
- Net profit down about 27%.
- Constant currency was expected to fall but came in flat; guidance for third quarter maintained.
- Total booking came in at 2.6 billion dollars, down 23%, expected to improve going forward.
- Jefferies maintained an underperform rating but hiked target price, expecting 4.5% EPS growth over FY27-29 despite weak growth outlook.
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