UPDATE 2-India's Wipro expects small rise in IT services revenue in quarter [Reuters (UK)]
Wipro Limited (WIT)
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Source: Reuters
India's Wipro expects small rise in IT services revenue in quarter | Reuters 2 Min Read (Reuters) - Indian software services provider Wipro Ltd on Friday forecast a small rise in revenue growth from IT services for the quarter to March after beating third quarter profit estimates. Although factors such as Brexit, rising trade war concerns and the healthcare act could create tension for firms globally, a weaker rupee has been beneficial for the Indian IT sector. “We do not see any immediate impact of the macro headwinds that some of the large economies have cautioned, but we continue to remain watchful,” Abidali Z. Neemuchwala, Wipro’s Chief Executive Officer, said following the results. Wipro remained cautious over growth in the healthcare business, amid uncertainty around the Affordable Care Act. Revenue in the healthcare division grew at 4.3 percent in the quarter, while that from the business, financial services and insurance division rose 24.8 percent. “At this point, we are not s
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