Wipro Q3 Results | Impact on Monday Market

Wipro may open 10-12% higher on Sunday. What is the reason behind Wipro’s results? If you look at their net profit, there is a 12% year-on-year drop. If you look at their revenue, there is a drop of 4% year on year.

Wipro Q3 result

Quick look at Wipro Q3 Result

Key HighlightsQ3 FY24 Results
Gross Revenue₹222.1 billion ($2.7 billion)
(Decrease of 1.4% QoQ)
IT Services Segment Revenue$2,656.1 million
(Decrease of 2.1% QoQ)
Non-GAAP CC IT Services Revenue(Constant Currency)
(Decrease of 1.7% QoQ)
Total Bookings$3.8 billion
(Up by 0.2% QoQ)
Large Deal Bookings$0.9 billion
IT Services Segment EBIT₹35.4 billion ($425.8 million)
(Decrease of 1.8% QoQ)
IT Services Operating Margin16.0%
(Down by 11 bps QoQ)
Net Income₹26.9 billion ($323.9 million)
(Increase of 1.8% QoQ)
Earnings Per Share (EPS)₹5.16 ($0.06)
(Increase of 2.0% QoQ)
Operating Cash Flows177.3% of Net Income
₹47.9 billion ($575.7 million)
Voluntary Attrition12.3% (Q3'24)
Interim Dividend Declared₹1 ($0.0121) per share/ADS

Impact on Stock

Then why would Wipro open higher because the ADR of Wipro i.e. Wipro’s stock which is listed in America was above 16% in the New York Stock Exchange? There was no participation of IT stock in this rally of Nifty.

But if you choose the right IT stock. Small money could be made in small-cap and mid-cap IT stock, if you look at Birla soft, after April, returns of 200%, 100% return in KPIT, and 100% return in the Persistent system.

Good money can be made. You just need to know when to invest money in which stock. This is very important. Share this post with your friends who are interested in stocks and finance.

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