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Prabhudas Lilladher Report
Wipro Ltd.'s revenue grew at 3.4% QoQ constant currency (our estimate 3%, consensus 3.2%) and 3.9% QoQ in U.S.dollar terms.
Revenue growth was broad based growth led by 5.6% QoQ rise in energy and utilities, 5.2% QoQ in consumer business unit and 5.5% QoQ growth in health business unit (all in reported terms).
Sharp margin beat positively surprised us, re-inforcing Wipro's strategy of profitable growth.
Ebit margins came at 22 quarters high at 21.7% (up 243 basis points QoQ and up 329 basis points YoY) versus our estimates of 19.0% and consensus: 19.1%.
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