At Moneycontrol, the Results page helps you effectively track corporate announcements and results for various listed companies across both India and abroad. With our Results page, you can keep abreast with an updated, comprehensive view of all the profit/loss statements, company spendings, AGM outcomes, and quarterly and annual results from all these listed companies. Additionally, Moneycontrol also regularly tracks international MNCs listed on NASDAQ and Asian bourses, including popular companies like Apple, Google, Alibaba. Apart from finding solid copies of company results, stock movements consequent to these company results, expectations, and analytical post results copies, you will also find copies and articles detailing the earnings, impact, and all major announcements made to media/exchanges by these companies, so that you do not miss anything. We also provide you with concrete data points to help you spot profitable trades, stock build-ups, and bulk deals. At Moneycontrol, we also cover analysts/investors meetings; scrutinise results and data and BSE/NSE reports or news. The copies are not just full of information and data, but are also adequately supplemented with expert views, investor opinions, extensive interviews, videos, and a huge variety of explainers, analyses, and informative slideshows to help you gauge the market and make investment decisions in the best possible manner. More
The company‘s consolidated profit after tax climbed 4.27 percent sequentially to Rs 2,014.7 crore and revenues grew 3 percent to Rs 11,327.4 crore for the quarter ended December 2013.
Wipro delivered its Q3 earnings which were inline with street expectations.
The company added its net profit of Rs 2,010 crore (USD 325 million) also includes a non-recurring expense incurred due to the cessation of manufacturing Wipro branded desktop, laptops and servers.
In an interview to CNBC-TV18, Basu Banerjee, IT Analyst at Quant Capital spoke about Q3 earnings season for the Indian IT sector.
According to Sushil Finance, revenues of Wipro are expected to increase by 3.8 percent Q-o-Q to Rs 11186.8 crore.
According to ICICIdirect.com, revenues of Wipro are expected to increase by 3 percent Q-o-Q (up 17.6 percent Y-o-Y) to Rs 11318.4 crore.
A CNBC-TV18 poll of analysts expects the company to notch up operating profits to rise 5.7 percent to Rs 2,393 crore compared to Rs 2,264 crore in the previous quarter. Revenues are expected to go up to Rs 10,332 crore versus Rs 10,068 crore, an increase of 2.6 percent.
AnandRathi Securities has come out with its earning estimates on IT sector. "Expect the top-four Indian IT companies to post 3.1% qoq, and 12.8% yoy, growth in USD revenue in 3QFY14," says the research firm.
"We expect tier-1 IT aggregate growth to moderate to 3.2 per cent q-o-q, given seasonal impacts of lesser working days and year-end shutdowns/furloughs," Nomura Equity Research said in a report.
The big news though was Cognizant‘s upward revision of revenues for the full year. In Q2, 2013 the company had said that it expected revenues to come in at USD 8.74 billion, a growth of 19 percent compared to the previous year.
Revenues from its IT services increased 12.67 percent sequentially (20 percent year-on-year) to Rs 10,068 crore in the quarter ended September 2013.
Financial services firm Cowen and company feels that although Wipro Q2 earnings showed improvement, it still needs to work its way through to meet the industry standards.
Ankita Somani, Analyst at Angel Broking is of the view that Wipro has been a laggard in terms of revenue growth among the top four IT companies.
Its IT services revenue rose 5.9 percent year-on-year to USD 1.63 billion, whereas sequential revenue growth stood at 2.7 percent. In rupee terms, IT Services revenues stood at Rs 10,068 crore in the quarter under review.
According to KR Choksey, Wipro to report a 16 percent growth quarter-on-quarter (growth of 28 percent year-on-year) in net profit at Rs 1,889 crore.
According to Motilal Oswal, Wipro to report a 13.6 percent growth quarter-on-quarter in net profit at Rs 1,843.5 crore.
According to ICICIdirect.com, Wipro may report a 10.8 percent growth quarter-on-quarter (growth of 2.9 percent year-on-year) in net profit at Rs 1,807.9 crore.
According to Kotak Securities, Wipro may report a 18.4 percent growth quarter-on-quarter (growth of 18.8 percent year-on-year) in net profit at Rs 1,921.6 crore.
Dollar revenues are expected to increase 2.8 percent to USD 1,634 million during September quarter from USD 1,588.3 million in June quarter.
N Chandrasekaran, MD and CEO of TCS said that the pricing remained stable currently and that the company was aiming an operating profit margin of 26-28 percent.
Basu Banerjee expects atleast 15 percent upside on HCL Technologies from its current levels when compared to its largecap peers trading at much higher valuations.
Wipro's growth has lagged peers for two years now, but now things may set for a turnaround. It gave a 2-4 percent sequential US Dollar revenue growth guidance for Q2 and has said that there is pickup in large deal closures and confidence among clients is higher.
Market experts concur, on CNBC-TV18, The strong management guidance and quarterly results being in line with expectations should enable Wipro to post a strong opening on the bourses on Monday.
Wipro is likely to report a Rupee revenue growth of 3 percent to Rs 9,917 crore. In US Dollar terms, revenue from IT services is seen up 0.2 percent to USD 1.59 billion.
Kotak Securities expects Wipro to report a 6.8 percent growth quarter-on-quarter (growth of 6.5 percent year-on-year) in net profit at Rs 1682.7 crore.