Overall a very good quarter for Wipro with standalone PAT up by 39% and consolidated profit after tax up by 35% – far ahead from its rivals in Sep 2019 quarter. Sales also up 4% and 3% respectively.
Operating profit were up by 16% and 27% and profit before tax and depreciation down 2% in standalone basis and up 27% in consolidated basis. Earning per share up by 6% and 2% respectively.
During last 1 year period Wipro share was in a consolidation mode with gain of only just 2% but now showing a positive trend with Macd about to cross zero line and ADX slowly turning positive.
With better than expected results in Sep 2019 a re-rating possible in the stock so more upside possible in the coming weeks or months.