Q4 results today: Wipro, Waree Renewables among 10 companies to announce earnings on Wednesday

The fourth quarter results are underway and some big earnings are scheduled for today. On Wednesday, Angel One, Waaree Renewable Technologies and Wipro will be the key earnings to watch out for. A total of 10 companies will announce their results.

Apart from the above, GTPL Hathway, Ballarpur Industries, Heera Ispat and India Cements Capital, Infomedia Press, Reliance Industrial Infrastructure and Swaraj Engines will also announce their results.

Wipro Q4 Preview

Deterioration in demand will lead to revenue decline for Wipro in constant currency terms in the fourth quarter. The drop will be more or less towards the lower end of -1 to 1% range of guidance.

Consolidated revenue from operations during the January-March 2024 period is seen rising by a marginal 2% year-on-year (YoY), according to an average estimate of six brokerages. The CC revenue decline is expected to be around 0.4%. Net profit during the reporting period is likely to jump 16% YoY, the estimates revealed.

For the fourth quarter, margins are expected to remain in a narrow band, with no significant headwinds anticipated. Wage hikes are behind and fully absorbed in the preceding third quarter.

Investor focus will be on state of discretionary spending by clients in light of recent macro deterioration and spending in financial services accounts noting Wipro's high discretionary exposure to the vertical

Analysts say BFSI may perform better sequentially due to uptick in budgets and Capco business. Healthcare will also grow, but slower than in the past.

"We forecast a stable EBIT margin with benefit from rupee depreciation, offset by lack of operating leverage/revenue decline. We expect a large deal TCV to be in the $1.6-1.8 billion range, taking into consideration the Phoenix mega-deal," said Kotak Equities.

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