Wipro shares on Monday fell nearly 3 percent after the company’s quarterly earnings failed to impress investors. The amount dropped by 2.84 to Rs 494.50 on the BSE. On the NSE, we are down 2.81 to Rs 494.50. Wipro on Friday increased 4 percent of its combined profit to Rs 3,092.5 crore in the fourth quarter ending March 31, 2022, due to continued demand for IT services. .
The March 2022 quarter was the sixth consecutive quarter for Wipro revenue growth by more than 3 percent. The company’s annual revenue exceeded the USD 10 billion mark for the first time. For the year ended March 31, 2022, Wipro posted a 12.57 percent increase in combined profit to Rs 12,232.9 crore compared to Rs 10,866.2 crore recorded last year.
“The exceeding USD 10 billion in revenue is a significant sign for us. So, now we aim to be higher. Revenue growth has been faster than ever before. Overall, we have added a quarter of our total revenue this year,” Wipro said. CEO and managing director Thierry Delaporte said.
Wipro’s combined revenue from quarterly January-March performance grew by about 28 per cent to Rs 20,860 crore from Rs 16,245.4 crore.
“We have directed revenue growth of 1 to 3 percent, which will lead to a 16 to 18 percent annual growth rate on sustainable development. While we do not provide annual guidance, I want to make sure that we expect to grow by doubling in the 2023 financial year,” he said. “Delaporte said. He said the mid-term limits are expected to be 17-17.5 percent. “However, in the next two years. Three quarters, we will see slightly lower pages.
“We see 1QFY23’s improved growth direction as disappointing, as the Wipro 1Q season was expected to be a thing of the past and should benefit from the strong demand for consulting IT-led IT services,” according to a MotilalOswal report. Research.
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