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Wipro 00/01 EPS seen rising 92%

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CIOL Bureau
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BANGALORE: Wipro's earnings per share will rise to $0.60 in the financial

year ending this month say analysts. (EPS) are forecast to surge 92.3 per cent

for the year to March, says a consensus estimate of three Wall Street analysts

polled by Multex.com.

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In a report dated March 24, the online financial information provider said,

analysts expect Wipro's earnings to rise to $0.60 per share in the financial

year ending this month. Wipro's earnings are seen rising 53.3 per cent in the

year ending March 2002, the report said. Shares of the diversified Indian

technology (IT) giant ended 5.18 per cent, down at Rs1,416.50 at the Bombay

Stock Exchange on Thursday while the local IT index fell 5.36 per cent.

Earnings of Infosys Technologies Ltd., India's third largest software

exporter, are forecast to jump 114.6 per cent to $1.00 per share in the year to

March, Multex.com said in a separate report.

More than the current year's results, analysts will be especially interested

in the business outlook unveiled by India's top software exporters during the

earnings reporting season next month.

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A cut in information technology spending by US firms has fuelled market

speculation about an adverse business impact on Indian software exporters as

over 60 per cent of the industry's exports go to the United States. Wipro, which

listed on the New York Stock Exchange last October, is expected to report

earnings of $0.19 per share in its fourth quarter ending this month, up 88 per

cent from a year-ago, Multex said in its report.

The research companies polled by Multex included Bank of America Securities,

Goldman Sachs and Merrill Lynch. Wipro's American Depositary Receipts were down

$1.42 at $33.27 in Thursday morning trade on the Nasdaq. Multex said the

analysts have an aggregate valuation of buy rating on Wipro's stock. Wipro's top

software clients include Nortel Networks , General Electric and Lucent

Technologies .

(C) Reuters Limited 2001.

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