Wipro Results: Q2 FY2023 Earnings Announcement | Date and Time - What Shareholders Should Know

Wipro Q2 FY2023 Results: Wipro Limited is scheduled to announce its Q2 FY2023 Earnings on Wednesday, October 12, 2022. The Q2 FY2023 results of IT major will be announced between 4:45 pm to 5:30 pm IST.

Wipro Results: Q2 FY2023 Earnings Announcement - Date and Time 

Day and Date: Wednesday, October 12, 2022

Time: 4:45 pm to 5:30 pm IST

Earlier, Wipro Limited had announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended June 30, 2022.

Highlights of the Results for the Quarter ended June 30, 2022:

-Gross Revenue was ₹215.3 billion ($2.7 billion1), an increase of 17.9% YoY

- IT Services Segment Revenue was at $2,735.5 million, an increase of 13.3% YoY

-Non-GAAP2 constant currency IT Services segment revenue increased by 2.1% QoQ and 17.2% YoY

- IT Services Operating Margin3 for the quarter was at 15.0%, a decrease of 200 bps QoQ

-Net Income for the quarter was ₹25.6 billion ($324.4 million1) and Earnings Per Share for the quarter was at ₹4.69 ($0.061)

- Our closing strength of employees for IT Services was at 258,574, an increase of 15,446 QoQ

Meanwhile, analysts had predicted that Indian IT services companies are expected to log steady sequential revenue growth in September quarter but an overhang of weak global cues tinged with macro risks will put spotlight on management commentary around deal momentum and demand outlook.

Brokerage reports and analysts' notes on Q2 earnings preview anticipate reasonably strong growth quarter for Indian IT firms despite challenging macroeconomic scenario in the US and Europe, but there are fair bit of warnings around "incremental pockets of weakness" or "slowdown in coming quarters".

The sunny, all-bullish demand narrative just a few quarters back has made way for more cautious and tempered expectations as storm clouds over global economy prompt economic commentators to flash warnings about recession risks and international market shocks.