Wipro expects 8 to 10 percent growth in June quarter, estimated after capo acquisition

Information technology major Wipro on Friday forecasts an eight to 10 percent growth in IT services revenue scenario for the quarter ending June 2021. The company revised its earnings estimates after acquiring Cappo for 45 1.45 billion.

The company expects 2 to 4 percent growth in IT services revenue in the current quarter ending in June, the company said in a March quarter results released earlier this month. Estimated estimates do not include the proceeds from the acquisition of Cappo and Ampeon.

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In March, Wipro 45 announced the acquisition of London headquarters Cappo in a deal of 1.45 billion (Rs 10,500 crore). This is the company’s largest acquisition deal. Capo was acquired on April 29, 2021, Wipro said in regulatory data. Upon completion of the acquisition, the company revised its revenue estimates for the April-June quarter, it said. “We estimate that the revenue from the business of information technology services will range from Rs 232.40 crore to Rs 236.70 crore.” It shows 8 to 10 percent growth on a quarterly basis.

However, this revised estimate of Wipro does not include the recent Ampean acquisition. This is stated in the information. Wipro announced earlier this month that it would acquire Australian-based cyber security, operations development and engineering service provider Ampeon for $ 70 1170 million. The deal is expected to be completed in the same quarter.

For the quarter ended March 2021, the company achieved revenue of 5 215.24 million IT services. This is 3.9 per cent higher than the previous quarter. The company derives most of its business from IT services. Total income rose 3.4 per cent to Rs 16,245.4 crore in the March quarter.

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