ECONOMY

Wipro Q1 Review – Healthy Performance, Strong Guidance: ICICI Direct

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Wipro Ltd. reported robust Q1 FY22 results.

Out of the 12.2% QoQ growth, organic revenue growth was 4.9% QoQ while the rest was led by Capco. We believe organic revenue growth was boosted by Metro AG deal (~1.6%).

Going forward, ramp up of deal win is expected to help drive revenues in Q2 FY22E.

Wipro guided that its Q2 FY22E IT services revenues would be in the range of $2,535 -2,583 million, translating to 5.0-7.0% QoQ growth.

We believe the organic revenue growth could be in the range of 1.8-3.8% QoQ.

The company is winning multi-year deal and large deals, which is expected to drive growth.

Click on the attachment to read the full report:

ICICI Direct Wipro Q1FY22 Result Update.pdf

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