Wipro Q1 net seen down 3.7% to Rs 2153 cr: Edelweiss Securities

Edelweiss Securities has come out with its first quarter (April-June) earnings estimates for the technology sector. The brokerage house expects Wipro to report a 3.7 percent degrowth quarter-on-quarter (degrowth of 1.6 percent year-on-year) in net profit at Rs 2152.9 crore.Revenues are expected to increase by 1.3 percent Q-o-Q (up 12.9 percent Y-o-Y) to Rs 13812.9 crore, according to Edelweiss Securities.Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 1.8 percent Q-o-Q (up 5.7 percent Y-o-Y) to Rs 2755.2 crore.Edelweiss Securities' Report on Wipro:Wipro to post USD revenue growth of 2 percent Q-o-Q and cross currency impact of 40bps. EBITDA margin estimated decline by 70bps due to one month wage hike. Update on demand outlook and investment in digital to be keenly watched.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.