INSUBCONTINENT EXCLUSIVE:
Shares of Wipro were trading over 3 per cent higher during Thursday's session after the IT firm posted a 12.5 per cent rise in consolidated
net profit at Rs 2,387.6 crore for the April-June quarter
Wipro guided for up to 2 per cent sequential revenue growth for the July-September period.
The scrip was trading 3.14 per cent up at Rs
267.85 at around 10 am (IST), while BSE Sensex was trading 60 points, or 0.15 per cent, down at 39,155 at around the same time
Revenue of the company increased by 5.3 per cent to Rs 14,716.1 crore during the reported quarter, compared with Rs 13,977.7 crore in the
The Bengaluru-based company's consolidated income rose by about 5 per cent to Rs 15,566.6 crore during the said quarter.
Brokerage firm
Sharekhan said that Wipro delivered lower-than-expected revenue performance for Q1FY2020
However, adjusted EBIT IT margin remained a tad ahead of estimates
Management highlighted that the capital return policy would be maintained at 40-50 per cent of net profit despite change in taxation policy,
Macquarie sees lower PAT growth for FY20-21E by 1.6-4.3 per cent and believes revenue growth to remain sub-par to industry.