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Infosys has sounded the warning bell. The IT bellwether has prompted fears that it could revise its guidance lower. Its top management has told analysts that it expects challenges in meeting its whole year dollar revenue guidance, reports Sunanda Jayaseelan of CNBC-TV18.
In an interview to CNBC-TV18, Wipro's management, executive director and chief financial officer Suresh Senapaty, chief executive officer-IT biz and executive director TK Kurien, executive VP-HD Pratik Kumar, speak about the results and give their outlook going forward.
Pramod Gubbi, vice president sales, Ambit Capital says Wipro's Q2 performance is largely in-line with estimates. However, he remains negative on Wipro and advises exit.
Country's third largest software services exporter Wipro's consolidated profit after tax is likely to go down by 3.8 percent quarter-on-quarter to Rs 1520 crore in the quarter ended September 2012.
In an interview to CNBC-TV18 Ankur Rudra, VP-Institutional Equities at Ambit Capital shared his reading and outlook on various stocks across the IT sector.
Commenting on IT major‘s dismal performance in the June-September quarter, Moshe Katri, MD, Cowen & Co, New York said it was yet another light quarter in terms of revenues, margins and guidance reset.
Emkay Global Financial Services expect a an inline Q2 quarter from our Tier I IT services coverage universe with marginal cross currency gains (20-30 bps QoQ benefit) driving a 2.2-4.1% QoQ US$ revenue growth with Wipro at the lower end (+2.2% QoQ) and TCS (+4.1% QoQ) at the upper end.
Angel Broking has come with its September ‘12 quarterly earning estimates for IT sector. According to the research firm expects 2QFY2013 to be better than 1QFY2013.
Dolat Capital has come with its September`12 quarterly earning estimates for IT sector. The research firm expects stocks in their coverage universe to report 3-5% sequential growth in constant currency revenues with some notable exceptions (Infy/Wipro – both consolidating their priorities).
July-September is normally a seasonally strong quarter for software service providers. However, this time around most companies are likely to report muted growth given tighter budget spends amid continued uncertainties in the global macro-economic environment.
The second quarter earnings season will kick off with IT major Infosys announcing its results on October 12. Dhananjay Sinha of Emkay Global told CNBC-TV18 that sales growth of IT companies will be muted for Q2.
Ashwin Mehta, IT Analyst at Nomura India said HCL Tech remains their top pick with a target price of Rs 630 per share. According to him, client mining has showed positive progression in Q1.
Breaking up the earnings results for CNBC-TV18, Vineet Agrawal, president-cons care & lighting at Wipro Consumer says the company has witnessed a robust growth of around 30% across categories.
Wipro today a beating today due to a weak guidance for the July-September quarter, despite posting numbers that came in line with expectations.
Wipro Ltd, India's No. 3 software services exporter, reported an 18% rise in quarterly net profit, meeting expectations, as customers outsourced more work to the company to cut their operational expenses.
Pratish Krishnan, IT analyst, Antique Broking expects Tata consultancy Services (TCS) to grow at a faster pace than its peer going ahead. However, he expects Infosys' growth to rebound in FY14.
Motilal Oswal has come with its earning estimates on IT sector for June the quarter. Acording to the research firm, currency benefits to reflect in margins at Wipro and HCL Tech.
Prabhudas Lilladher has come with its earning estimates on IT sector for June quarter. According to the research, Tier 2 IT companies to participate in the growth momentum.
Dolat Capital has come with its earning estimates on IT sector for June quarter. According to the research firm, growth in the reported Rupee revenues would be strong owing to sharp fall of Rupee versus USD (7% average decline on QoQ basis).
Angel Broking has come with its earning estimates on IT sector for June quarter. The research firm expects 1QFY2013 to be better than 4QFY2012.
Emkay Global Financial Services has come with its earning estimates on IT sector for June quarter. The research firm expect a subdued quarter from our Tier I IT services coverage universe with cross currency moves (100-150 bps QoQ adverse impact) driving further weakness in US$ revenue growth.
It is likely to be a subdued start to the June quarter earnings season as a weak demand environment could keep growth rates of IT companies in check.
In an interview to CNBC-TV18, Vineet Agrawal, president-consumer care & lighting, Wipro says, the year has gone well for the company largely because ‘Santoor‘ has done well. "We would like to outperform the industry growth going forward," he adds.
India's third largest software services provider Wipro disappointed the street with a muted guidance for the first quarter. However, the company endeavors to grow higher than the industry average in fiscal 2013, its CEO TK Kurien said on Wednesday.
Software services provider Wipro is set to declare its fourth quarter numbers on Wednesday. CNBC-TV18 poll expects the company to report a growth of just 1% QoQ in its consolidated profit after tax of Rs 1,471 crore for the fourth quarter of FY12.