*Wipro ltd.* | *CMP* Rs. 244 | *M Cap* Rs. 139380 Cr | *52 W H/L* 302/221
(Nirmal Bang Retail Research)
CC QoQ revenue growth came at 1.1% vs expectation of 1.4%, QoQ -0.7%, YoY 3%
*Result inline with expectation*
*Outlook for Dec 2019 QoQ - IT Services Dollar revenue growth to be in the range of 0.8% to 2.8% i.e $2065-2106*
Dollar revenue came at $ 2048.9 Mn vs expectation of $ 2051.1 Mn, QoQ $ 2038.3 Mn, YoY $ 2009.5 Mn
Net sales came at Rs. 15125.6 Cr (2.8% QoQ, 4% YoY) vs expectation of Rs. 14895.2 Cr, QoQ Rs. 14716.1 Cr, YoY Rs. 14541 Cr
EBIT came at Rs. 2614.4 Cr (6.6% QoQ, 36.7% YoY) vs expectation of Rs. 2440.2 Cr, QoQ Rs. 2451.5 Cr, YoY Rs. 1913 Cr
EBIT Margin came at 17.3% vs expectation of 16.4%, QoQ 16.7%, YoY 13.2%
Adj. PAT came at Rs. 2552.6 Cr vs expectation of Rs. 2273.7 Cr, QoQ Rs. 2402.1 Cr, YoY Rs. 1885.6 Cr
Quarter EPS is Rs. 4.5
Stock is trading at P/E of 14.9x FY20E EPS