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

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 cent. Net profit, too, is expected to decline 3.8 per cent QoQ and 8.1 per cent year-on-year (YoY) to Rs 2,970 crore.