Wipro shares in focus after Q3 PAT jumps 24% YoY. Should you buy, sell or hold?
Wipro shares will remain in focus after the IT services company reported 24% growth in its consolidated net profit for the quarter ended December 31, 2024, to Rs 3,354 crore, while revenue from operations rose by a marginal 0.5% to Rs 22,319 crore.
On a sequential basis, profit after tax (PAT) was up nearly 5% and the revenue increased just 0.1%.
“In a seasonally weak quarter, our strong in-quarter execution helped us deliver above the top end of our revenue guidance. We also achieved our highest margins in the past three years while continuing to invest in our people," said Srini Pallia, CEO and MD, Wipro.
The company booked total deals worth $3.5 billion with large deals making up for $961 million, an increase of 6% YoY in constant currency terms.
Should you buy, sell, or hold Wipro's stock? Here's what analysts say:
Morgan Stanley
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