Wipro Share Price Falls Today, Ahead Of Q2 Earnings Report: What To Expect?

The share price of IT company Wipro is marginally down today, ahead of the Q2 earnings reports. The IT sector has been struggling hard in the stock markets over the past year, due to weak global cues. Profit margins are down, hirings are falling, hence investors are quite worried. Also, Wipro earlier stated that they have deferred, postponed, or reduced their variable payout to employees in Q1. Till last traded, Wipro stock price stood at Rs. 404.15 a piece.

Wipro - stock performance

In the last 5 days, Wipro's share price fell by 1.21%. in the last 1 month, its share price has fallen by 4.23%, and in the past 6 months it has dropped 27.66%. In the last 1 year its share price has fallen by 38.68% a piece. However, in the last 5 years its share price augmented by 84.60%. It is a large-cap IT stock with a market capitalization of Rs. 222,223 crore.

The 52-week high level of this stock is Rs. 739.85, and the 52-week low level of this stock is Rs. 384.60.

Market capitalization	Current market price	6 Months Downside	1 Year Downside
Rs. 222,223 crore	Rs. 404	27.66%	38.68%

In Q1 FY23, Wipro reported its consolidated net profit of Rs. 2,563.6 crore, which was lower than Rs. 3,242.6 crore in Q1 FY22. Additionally, its PAT declined by 16.96%, on a month-on-month basis. However, ICICI Direct is expecting that the IT company can report a revenue of Rs. 22,722.2 crore, a gain of 15% YoY and 5% QoQ. So, investors are looking forward to the Q2 earnings report today.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, brokerage firm, and the author are not liable for any losses caused as a result of decisions based on the article.