• Times Now | 15-Jul-2021 19:30

    Wipro Q1 review: strong Beat on revenue growth, Q2 revenue guidance strong at 5% to 7%

    Wipro posted a fairly strong performance on the revenue front with a beat on revenues and profitability. The management shared a very strong revenue growth guidance of 5-7% for Q2. Q1 Margins, however, were under pressure at 18.8%. IT services grew at 12% QOQ in Constant currency terms (USD growth of 12.2% QOQ) and profits at Rs 3232 crore, up nearly 8.7% QOQ. Thierry Delaporte, CEO and MD said, Q1 organic growth stood at 4.9%, and the rest came from Capco. This was the highest ever organic QOQ growth in 38 quarters, and overall revenue growth was the best. Management is confident of double-digit growth in FY22 even without Capco. Overall demand environment is robust, pipeline quality is strong, and in Q1, they closed 8 large deals resulting in TCV of over USD 715mn. All markets are seeing solid demand, and large deals have been exceptionally strong in America's market. Management said that Margins at 18.8% of this Capco integration impact is about 1.3%, but they are confident that man

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