Wipro, one of the leading software exporters, will be announcing its second quarter financial results on Wednesday, Oct. 22, 2014.

Angel Broking expects the company's IT services segment to post revenues of USD 1,780 million, up 2.9% qoq. At the consolidated level, we expect the company to record revenues of Rs 118.43 billion, up 5.6% qoq.

At a consolidated level, Wipro is expected to record 82bp qoq dip in its EBIT margin to 20.4%. PAT is expected to come in at Rs 21.12 billion, down by 0.4% qoq. We maintain our buy on the stock with a target price of Rs 689.

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