However, some airlines will see a decline in flight numbers for the season, with Spice Jet (-29.85%), Vistara (-4.38%), Air Asia (-0.41%), and Alliance Air (-14.22%) being affected. The DGCA stated that the Summer Schedule (SS) 2023 has been finalized after the slot conference meeting held in February 2023.Īmong the 110 airports, six new airports, Jeypore, Cooch Behar, Hollongi, Jamshedpur, Pakyong, and Mopa (Goa), will be added to the list of destinations served by scheduled airlines, while Ziro and Hindon airports will not be included in the Summer Schedule 2023.Īs per the schedule, IndiGo will operate the highest number of departures, with 11,465 flights per week, followed by Spice Jet with 2,240 flights, Air India with 2,178 flights, Vistara with 1,856 flights, Go First with 1,538 flights, Air Asia with 1,456 flights, Alliance Air with 887 flights, and Akasa Air with 751 flights. The attrition rose to 22.7% (voluntary TTM) on a trailing 12 month basis from 20.5% in the second quarter (QoQ).The Directorate General of Civil Aviation (DGCA) on March 17 announced that for the summer schedule from March 26 to October 28, a total of 22,907 flights will operate per week from 110 airports, representing a 4.4% increase from the winter schedule. Wipro has added 10,306 employees in Q3, taking the total strength of employees for IT services to 231,671, an increase of 41,363 employees on a net basis year-on-year (YoY). We are overall optimistic on the stocks with medium to long term horizon,' Tapse added. Wipro falls Friday, still outperforms market Shares of Wipro Ltd. Based on the results we expect stock would react marginally down from today closing of ₹691 and give opportunity to accumulate in the range of ₹660-675. Order bookings continued to be robust by adding 7 new customers in the more than $100 mn revenue league, in the last 12 months.

On the revenue guidance and outlook for Q4, Wipro expects revenue from IT segment would sequentially grow of 2% to 4% as expected by street. 'As history company continued to pay dividend and approved an interim of 1 rupee per share. Revenues wise Wipro missed street expectations and margins were in-line as expected while net profit was almost flat when compared with ₹2,968 crore reported in the year-ago period,' said Prashanth Tapse, Vice President (Research) at Mehta Equities Ltd. 'Wipro Ltd quarterly earnings are in-line with street expectation including future CC guidance. Additionally, we have declared an interim dividend of ₹1 per equity share,' Jatin Dalal, CFO of the company said. This has resulted in strong operating cash flow conversion, of 101.3% of net income. We also improved our working capital, by reducing our Days Sales Outstanding. “We delivered robust operating margins after absorbing substantial investments on salary increases, owing to continued improvement in operating metrics.

Wipro has an operating cash flow of $404.2 million, which is about 101.3% of net income. In constant currency, IT services segment revenue increased by 3% when compared with previous quarter and 28.5% year-on-year Segment wise, revenue from IT services business came in at $2,639.7 million, an increase of 2.3% quarter-on-quarter and 27.5% year-on-year. Wipro further said it continued the momentum in winning large deals with its customers in the reporting quarter. We are also excited to have completed the acquisitions of Edgile and LeanSwift Solutions in the quarter, both of which will add to our capabilities significantly. 'Our strategy and improved execution continue to serve us well, and we are confident of building on this momentum. In the last one year, the scrip has gained by 49.62% as against a rise of 24.82% in the Nifty IT index. On Wednesday, Wipro scrip traded lower by 0.45% to settle at ₹691 apiece on NSE. On the outlook for Q4, Wipro said it expects revenue from IT services business to be in the range of $2,692 million to $2,745 million, which translates to a sequential growth of 2% to 4%. Order bookings have been strong too, and we have added seven new customers in the more than $100 mn revenue league, in the last 12 months.'

Its revenue from operations, meanwhile, rose 29.6% to ₹20,313 crore as compared to ₹15,670 crore in the last year period.Ĭommenting on the results, Thierry Delaporte, Wipro CEO and MD said, “Wipro has delivered a fifth consecutive quarter of strong performance, both on revenues, and margins.

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