Wipro to announce Q4 results on Thursday; here’s what brokerages expect

Wipro, which generates over 85 per cent of its revenue from the US and Europe, is slated to report its March 2023 quarter results on April 27 in the backdrop of macroeconomic challenges faced by developed markets. Analysts tracking the IT major said a flat-to-single-digit growth in net profit is all likely for Wipro.

Brokerage KR Choksey Shares and Securities expects 13.5 per cent YoY and 1.9 per cent QoQ growth in overall sales of Wipro due to incremental pressure from weak macros among some pockets in the US.

“The company is also witnessing delay in decision making leading to delay in deal closures as some cautious stance being taken by clients,” the brokerage said. KR Choksey Shares and Securities expects flattish growth in net profit from Wipro on YoY and QoQ basis due to lower utilisations and some incremental expenses in terms of facility.

An assessment by KR Choksey Shares and Securities also shows a 0.3 per cent YoY and 0.8 per cent QoQ drop in the net profit of Wipro for the quarter that ended March 31. Investors should zero in on the Q1FY24 guidance and the commentary on M&A and updates on large deal wins in the forthcoming quarterly results of Wipro.

On the other hand, YES Securities sees a 6 per cent YoY rise in the bottom line of Wipro for the quarter ended March 31. It also believes that Wipro may report 13 per cent YoY growth in the top line in Q4FY23.

Brokerage Sharekhan and Elara Capital see nearly 5 per cent growth in net profit of Wipro on around 13 per cent rise in sales in Q4FY23. Centrum Broking projected 12.80 per cent YoY growth in revenue and a 2.6 per cent rise in profit after tax of Wipro for the quarter that ended March 31, 2023.

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