Wipro

Wipro posted much better than expected numbers for Q3FY15 though it remained quite tepid. Revenues came in much ahead of estimates – rupee revenue rose 4$ (QoQ) at Rs.11,344 crore and dollar revenue was up 1.3% at $1.8 billion. Constant currency revenue rose 4% (dollar terms) and this was very much in line with the company’s guidance of US$1.81 to 1.85 billion. Net profit rose 5% at Rs.2203 crore, led by good growth in healthcare & life sciences – QoQ growth of 6% and retail, consumer goods and transportation which grew 2.7%. But the performance was hit by poor show in energy and utilities segment and this was on account of decline in oil prices. EBITDA was up 3% at Rs.2470 crore though margin fell marginally from 22% to 21.8% (QoQ).

During the quarter, Wipro added 44 new customers and of this 10 were in digital space. For Q4FY15, the company gave a guidance of 1.1 to 3.1% growth in revenue and this is the lowest guidance given in current fiscal. The energy and utilities vertical is expected to see some more gain going ahead due to some of its European clients in this sector Utilisation rates, excluding trainees dropped sequentially by 60 bps to 78.8%.  The company added 2,569 employees on a net basis, taking its total employee count to 156,866 as on December 31, 2014.