IT major Wipro is all set to announce its quarterly financial earnings on Wednesday, April 16, for the period ended on March 31, 20245. Wipro stock opened in red, down 0.25 per cent in Wednesday’s trading session ahead of the announcement.
On Tuesday, the stock closed 1.94% higher at ₹244.40 per share. During the session, it hit a high of ₹245.05 and a low of ₹241.35. The stock opened at ₹245.05, compared to the previous close of ₹239.75. As of April 15, Wipro’s market capitalization stands at ₹2.55 lakh crore, and it is included in the Nifty 50 index.
According to an earlier report by Mint, the trading window for the company’s securities will be closed starting March 16 and will remain shut through April 18, 2025, inclusive of both dates.
According to the filings ahead of the results date, the company is not anticipated to declare any corporate actions such as dividend distribution, bonus share issuance, or a stock split.
The IT firm will announce its earnings at 7:00 pm on April 16, which is after the market trading hours in India, the company said in an exchange filing.
“…it is hereby informed that the next meeting of the Board of Directors of Wipro Limited (“Company”) will be held over April 15-16, 2025 to consider and approve, inter alia: a) the condensed audited standalone and consolidated financial results of the Company under lndAS for the quarter and year ended March 31, 2025. b) the condensed audited consolidated financial results of the Company under IFRS for the quarter and year ended March 31, 2025,” Wipro said in the filing.
The company will also hold a press conference meet with senior officials to discuss the performance for the quarter. “At 7:00 PM IST* (9:30 AM US Eastern time) following the results announcement, the senior management will discuss the company’s performance for the quarter and answer questions sent by 6:30 PM IST* (9:00 AM US Eastern time),” the company said in the filing.
Brokerage firm JM Financial anticipates that large-cap IT companies will report flat to slightly negative sequential growth, ranging from -1.4% to 0.2% in constant currency for the fourth quarter. Their performance is expected to be at the lower end of the guidance provided.
“The business outlook for IT services companies remains cautious amid elevated regulatory and economic uncertainties,” said JM Financial.
The brokerage anticipates Wipro’s net income for the quarter to increase by 21% year-on-year to ₹3,484.9 crore, with revenue projected to grow by 2.6% to ₹22,776.1 crore.
Elara Capital anticipates a 2.2% quarter-on-quarter (QoQ) decline in Wipro’s net profit, projecting it to reach ₹3,280.3 crore for the January–March quarter of the financial year ending 2025.
“Dollar-denominated revenue growth for Wipro should drop sequentially due to seasonality-led weakness and uncertain demand environment,” said the brokerage firm.
Elara has given the IT stock a “Sell” rating, projecting a potential downside of 3% on the investment.
“Wipro, expect margin to drop by 10bps QoQ on weak revenue. A steep dip may be arrested by continued cost rationalization initiatives,” said Elara Capital.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Trade tensions between the world's two largest economies have escalated in the last two weeks.Dilara Irem Sancar | Anadolu |…
Gold price today: MCX Gold hits record high on dollar's fall, persisting Trump's tariff uncertainty
InterGlobe Aviation, parent of IndiGo, is expanding into hospitality through a new partnership with French hotel major Accor. The two…
New Delhi: Union Commerce and Industry Minister Piyush Goyal said on Monday that India is well poised to convert the…