LATEST NEWS COVERAGE; Wipro quarter


IN EARLY TRADE WIPRO SPIKES 10 % 

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NOW  GRADUALLY SETTLED @ 6.81% after profit booking

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NSE :WIPRO  497.15  +31.55 ( 6.81%)

 WIPRO ADR SPIKES 16.95% in NYSE(NYSE: The New York Stock Exchang) After quarterly numbers

PREV. CLOSE


448.20

WIPRO 466.00  17.80( 3.97 %) NIFTY IT 36,521.70 ( 1786.45) 5.14%,




Gross revenue reached Rs 222.1 billion, a tumble of 1.4 per cent QoQ. Revenue from the IT services separation was $2,656.1 million, down 2.1% on a quarterly basis following the company's release of its results for the last period that ended in December 2023.On Friday, Wipro ADR was up 16.95% to $6.28 in exchange.

Constant Currency Non-GAAP2 Revenue for the IT Services segment fell 1.7% on a quarterly basis. With $3.8 billion in total concerns, there was a 0.2% increase. Large deal bookings and QoQ came to $0.9 billion. EBIT for the IT services division for the quarter was Rs 35.4 billion, a 1.8% quarter-over-quarter decrease.


According to Wipro, revenue from its IT Services business sector is expected to fall between $2,615 million and $2,669 million for the quarter ended March 31, 2024. In constant currency terms, it translates to sequential guidance of -1.5% to +0.5%.

The quarter's earnings per share was Rs 5.16 ($0.061), up 2.0% on a QoQ basis. Operating cash flows for the quarter was Rs 47.9 billion ($575.7 million), or 177.3 percent of Net Income.

QoQ voluntary attrition has remained moderate, touching a 10-quarter low of 12.3% in Q3 of 24

The quarter's operating margin for IT services was 16.0%, a decline of 11 per cent from the same period a year earlier. The quarter's net income came to Rs 26.9.

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