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IDBI Capital Report
Wipro Ltd.'s Q3 FY21 IT service revenue growth of 3.4% QoQ in constant currency terms was in-line with our forecast.
However, IT services Ebit margin of 21.7%, up 245 basis points QoQ was a big beat to our forecast. This resulted in consolidated Ebit margin improving by approximately 270 basis points QoQ to 21.2%.
Further, earning per share of Rs 5.2, up 20.3%/20.7% QoQ/YoY was also beat to our forecast.
Q3 FY21 large deal total contract value stood at $1.2 billion (including the $700 million deal from Metro AG).
Q4 FY21 guidance of IT services revenue growth of up 1.5% to up 35% QoQ in CC is inline with our expectation.
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