Wipro sees weak first quarter revenue growth after clients go bust [Reuters]
Wipro Limited (WIT)
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Source: Reuters
Wipro sees weak first quarter revenue growth after clients go bust | Reuters 3 Min Read BENGALURU (Reuters) - India’s third-biggest software services exporter Wipro Ltd on Wednesday forecast weak growth in revenue during the current quarter after two clients went bankrupt and it lost business in the U.S. Bengaluru-headquartered Wipro said on Wednesday it expected revenue from its key IT services business to be in a range of $2.02 billion to $2.07 billion in its fiscal first quarter to end-June as it reported a bigger-than-expected fall in fourth-quarter net profit. That would mean a fall of 2.3 percent to a rise of 0.1 percent from the $2.06 billion revenue it posted in the March quarter. Wipro’s finance chief Jatin Dalal said the impact on revenue could last “at least for a couple of quarters”, while salary increases effective June 1 will also add to costs. “Through the year we will improve margins but in Q1 we will have the revenue headwind as well as the one-month impact of the sal
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- 4/23/24 - Form 6-K
- 4/8/24 - Form 6-K
- 3/12/24 - Form 6-K
- WIT's page on the SEC website