Wipro Q1FY23 net profit likely to drop 8.1% YoY, say analysts

At the bourses, shares of Wipro have tumbled over 43 per cent so far in calendar year 2022. In comparison, Nifty50 and the S&P BSE Sensex have tanked 8 per cent each.

Wipro Q1 preview: Wipro is expected to report revenue growth between of around 3 per cent quarter-on-quarter (QoQ) at Rs 21,733 crore for the quarter ended June 2022 (Q1-FY23) as against Rs 20,860 crore reported in Q4-FY22. The company is scheduled to announce its financial performance for the recently concluded quarter on Wednesday, July 20.

After TCS and HCL Technologies that reported multi-year high levels of attrition in Q1FY23, analysts expect a similar trend for Wipro as well. Analysts peg EBIT margin to contract in the range of 30 to 40 basis points QoQ (bps) to 15 per cent from 16.8 per