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Wipro gets back into the game
Mint Kolkata
|January 21, 2025
In top form Wipro's operating margin hit a multi-quarter high in Q3FY25 despite wage hikes.
Wipro Ltd's investors are elated. The stock surged 6.5% on Monday following its better-than-anticipated result in a seasonally weak December quarter (Q3FY25).
The enthusiasm among investors is understood, considering the earnings pain Wipro has been through due to increased weakness in its discretionary portfolio and company-specific challenges. This had kept the Wipro stock on the backfoot compared to peers lately.
Sequential constant currency (CC) revenue for IT services in Q3 grew 0.1%, beating the consensus estimate of -0.5%. "Wipro Q3 performance was an inflection of sorts. Revenues topped the upper end of its guide (-2-0%), a first in over 12 quarters," said JM Financial Institutional Securities on 17 January.
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