External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Prabhudas Lilladher's research report onWipro Wipro reported revenue (IT Service) of USD2.7b, down 0.3% QoQ in CC and flat QoQ in reported terms, in line with consensus.</li><li>FY24 revenue growth stood at -4.4% CC YoY, at the lower band of the range to its closure peers.</li><li>Although Q4 growth was aided by seasonal strength in Capco (up 6.6% QoQ), which led the growth for its key vertical BFSI (up 2.1% QoQ), otherwise the weakness was board-based across its BUs.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prabhudas Lilladher's research report onWipro Wipro reported revenue (IT Service) of USD2.7b, down 0.3% QoQ in CC and flat QoQ in reported terms, in line with consensus.FY24 revenue growth stood at -4.4% CC YoY, at the lower band of the range to its closure peers.Although Q4 growth was aided by seasonal strength in Capco (up 6.6% QoQ), which led the growth for its key vertical BFSI (up 2.1% QoQ), otherwise the weakness was board-based across its BUs.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro - Stable Performance, Need More Consistency

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>In Q4FY24, Wipro’s reported revenue stood in line with our expectations at Rs 22,208 Cr, flat QoQ and 5.9% QoQ (in CC terms).</li><li>The company reported operating profits of Rs 3,287 Cr, flat on a QoQ basis.</li><li>However, its operating margins expanded in line with our expectations and stood at 15%, largely led by cost optimization. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q4FY24, Wipro’s reported revenue stood in line with our expectations at Rs 22,208 Cr, flat QoQ and 5.9% QoQ (in CC terms).The company reported operating profits of Rs 3,287 Cr, flat on a QoQ basis.However, its operating margins expanded in line with our expectations and stood at 15%, largely led by cost optimization. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro Ltd. - Inline Results; Weak Outlook

<ul>
<li>In Q3FY24, Wipro’s reported revenue stood in line with our expectations at Rs 22,231 Cr, down 1.4% QoQ and 5.9% QoQ (in CC terms).</li>
<li>The company reported operating profits of Rs 3,256 Cr, down 1.4% on a QoQ basis.</li>
<li>However, its operating margins expanded (above our expectations) and stood at 14.8%, largely led by cost optimization. </li>
</ul>
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


In Q3FY24, Wipro’s reported revenue stood in line with our expectations at Rs 22,231 Cr, down 1.4% QoQ and 5.9% QoQ (in CC terms).
The company reported operating profits of Rs 3,256 Cr, down 1.4% on a QoQ basis.
However, its operating margins expanded (above our expectations) and stood at 14.8%, largely led by cost optimization. 

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro Ltd. - Inline Results; Management Lowers Guidance

<ul>
<li>In Q1FY24, Wipro’s reported revenue stood below our expectations at Rs 22,831 Cr, down 1.5% QoQ and 2.8% QoQ (in CC terms).</li>
<li>The company reported operating profits of Rs 3,569 Cr, flat on a QoQ basis.</li>
<li>Its operating margins, too, remained below our expectations and stood flat at 16%, largely led by higher operating expenses.</li>
</ul>
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


In Q1FY24, Wipro’s reported revenue stood below our expectations at Rs 22,831 Cr, down 1.5% QoQ and 2.8% QoQ (in CC terms).
The company reported operating profits of Rs 3,569 Cr, flat on a QoQ basis.
Its operating margins, too, remained below our expectations and stood flat at 16%, largely led by higher operating expenses.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro Ltd. - Miss on All Fronts; Management Lowers Guidance

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>IT sector (coverage universe) growth is expected to bottom out in Q4FY24 and recover ‘gradually’ in FY25E</li><li>The slowdown in macro is still a baseline scenario and lower discretionary spending and slower conversion from TCV to revenue is a feature and not a bug—at least in the near term—and deals will be focused on cost optimisation</li><li>Growth divergence will continue within the sector and guidance for FY25E is likely to factor in improved H2 performance.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

IT sector (coverage universe) growth is expected to bottom out in Q4FY24 and recover ‘gradually’ in FY25EThe slowdown in macro is still a baseline scenario and lower discretionary spending and slower conversion from TCV to revenue is a feature and not a bug—at least in the near term—and deals will be focused on cost optimisationGrowth divergence will continue within the sector and guidance for FY25E is likely to factor in improved H2 performance.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

IT Sector (Q4FY24E Results Preview): Transition period from ‘gradually’ to ‘eventually’

India

Wipro Limited specializes in IT and computer related technologies. The Group's services encompass a number of areas, including software architecture, business intelligence systems, e-commerce, data warehousing, Internet access devices, network management, system administration, messaging systems, IT consulting and design. Wipro also has a presence in niche markets of consumer products.

Wipro Ltd (WPRO IN)

Wipro - Stable Performance, Need More Consistency

Prabhudas Lilladher's research report onWipro Wipro reported revenue (IT Service) of USD2.7b, down 0.3% QoQ in CC and flat QoQ in reported terms,...

Prabhudas Lilladhar

Wipro Ltd. - Inline Results; Weak Outlook

In Q4FY24, Wipro’s reported revenue stood in line with our expectations at Rs 22,208 Cr, flat QoQ and 5.9% QoQ (in CC terms). The company reported...

Axis Direct

Wipro Ltd. - Inline Results; Management Lowers Guidance

In Q3FY24, Wipro’s reported revenue stood in line with our expectations at Rs 22,231 Cr, down 1.4% QoQ and 5.9% QoQ (in CC terms).

Axis Direct

Wipro Ltd. - Miss on All Fronts; Management Lowers Guidance

In Q1FY24, Wipro’s reported revenue stood below our expectations at Rs 22,831 Cr, down 1.5% QoQ and 2.8% QoQ (in CC terms).

Axis Direct

IT Sector (Q4FY24E Results Preview): Transition period from ‘gradually’ to ‘eventually’

IT sector (coverage universe) growth is expected to bottom out in Q4FY24 and recover ‘gradually’ in FY25E. The slowdown in macro is still a...

HDFC Securities