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Wipro share price hit new high ahead of June quarter results –

The IT firm releases its June quarter scorecard today, which is likely to come out softer on a quarter-on-quarter basis but year-on-year, the numbers are likely to show decent growth

Wipro share price gained more than 2 percent intraday on July 15 ahead of the announcement of the first quarter results scheduled to be declared later in the day.

The stock was trading at Rs 573, up Rs 11.40, or 2.03 percent, at 11.12 am. It touched a 52-week and an intraday high of Rs 579.75 and an intraday low of Rs 559.

The IT firm’s June quarter scorecard is likely to be softer on a quarter-on-quarter (QoQ) basis but year-on-year (YoY), the numbers are likely to show decent growth.

Other than the numbers, demand trends in key verticals and deal pipeline will be in the focus.

Also Read: Wipro Q1 preview: Numbers may be subdued QoQ; demand trends, deal pipeline to be in focus

Brokerage firm Emkay Global expects a 19 percent YoY growth in net sales and a 16.6 percent YoY rise in PAT. However, QoQ net sales may see a rise of 9.3 percent whereas PAT may see a decline of 6.3 percent.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) may rise 27 percent, while the EBITDA margin may rise 142 bps YoY but QoQ, EBITDA may be flat while the margin may see a decline of 206 bps, Emkay estimates.

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Estimates of Motilal Oswal Financial Services show a 17.4 percent YoY and 7.7 percent QoQ growth in net sales. PAT may rise 8.4 percent YoY but decline 12.8 percent QoQ, said Motilal Oswal. The brokerage firm expects a marginal impact from supply-side issues.

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