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1QFY2012 Result Preview
Wipro
Wipro is set to announce its 1QFY2012 results. We expect the company’s IT services
segment to post revenue of US$1,416mn, up merely 1.1% qoq. Volume growth is expected
to be flat qoq. At the consolidated level, we expect the company to record revenue of
`8,335cr, up merely 0.4% qoq. The company is expected to record a 49bp qoq decline in
its EBIT margin to 21.6% for the IT services segment due to wage hike given from June 1,
2011. At a consolidated level, Wipro is expected to record flat EBIT margin qoq at 17.8%.
PAT is expected to come in at `1,363cr. We maintain our Buy rating on the stock with a
target price of `483.
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