Wipro Work in progress?
The fourth quarter results will be crucial for the firm. Wipro has guided for IT revenues in the range of $1.585-1.625 billion. That represents a gain of 0.5-3%.
Analysts were expecting that band to be in the 1-3.5% range. Its cross town rival Infosys is likely to grow by 2.7% sequentially in Q4. Wipro’s utilisation rates had slipped to 74.8% last quarter from a near 78% in Q2. The positive point is that discretionary spend has started to open up, but no one knows by how much. Wipro has to take advantage of these opportunities more than ever before and Q4 may be a great time to script a turn around.
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