Wipro Q4 Results Review: Tariffs, Macro Uncertainty Drive Poor Q1 Guidance; Motilal Oswal Maintains 'Sell'

As per Wipro's management, client spends deteriorated toward the end of Q4, and Q1 could see further impact. A soft guidance of 3.5% to 1.

5% cc QoQ revenue decline reflects this. Will the situation become immediately better in Q2? It’s too early to say.NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies.



These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. Motilal Oswal ReportWipro Ltd. reported Q4 FY25 IT Services revenue of $2.

6 billion, down 0.8% QoQ in constant currency, below our estimate of flat QoQ. It posted an order intake of $3.

9 billion (up 12.5% QoQ), with a large deal total contract value of $1.8 billion (up 43% QoQ).

Ebit margin of IT Services was 17.5% (est. 17.

6%). Ebitda was flat QoQ and up 6.3% YoY at Rs 47 billion (estimate Rs 48 billion).

PAT stood at Rs 36 billion (+6.4% QoQ/+25.9% YoY), above our est.

of Rs 33 billion. For FY25, revenue declined 0.6% YoY, whereas Ebit/PAT grew 11%/19% YoY (in INR terms).

We expect revenue to remain flat YoY and Ebit/PAT to grow by 4.1%/3.0% YoY in Q1 FY26.

We reiterate our Sell rating on Wipro with a target price of Rs 215, implying 17 times FY27E EPS.Click on the attachment to read the full report:ABB India Remains Focused On New Areas, Says Motilal Oswal, Maintaining 'Buy'DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way.

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