InvestorQ : What is your view on the Wipro results?
Dia Deshpande made post

What is your view on the Wipro results?

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Anu Biswas answered.
1 year ago

Wipro was the second IT Company after TCS to announce stellar results on Tuesday. The company reported 8.8% growth in revenues but a whopping 38% growth in profits on better cost management during the fourth quarter. The results were also broadly in line with the market consensus estimates. The board of Wipro also approved a buyback of shares to the tune of Rs.10,500 crore at a price of Rs.325. This higher buyback price should also work in favour of the stock. Wipro has been gradually reducing its exposure to the BFSI and the telecom space (its staple at one point of time) has increased its exposure to digital space substantially.

Wipro has the valuation advantage too with the P/E ratio at just about 22 times in rolling terms. The stock has given a very good performance in the last one year and looks among the improved bets in the industry.