INSUBCONTINENT EXCLUSIVE:
Wipro said it expects IT services revenue at $2,039 million-$2,080 million in the September quarter
Wipro, the country's third largest software services company, on Wednesday reported a net profit of Rs 2,387.6 crore for the quarter ended
That marked a decrease of 3.86 per cent compared to its net profit of Rs 2,483.5 crore for the quarter ended March 31, but was higher than
Wipro's net profit in the April-June period was boosted by robust demand from its key financial clients
In a poll conducted by news agency Reuters, analysts had on an average expected a net profit of Rs 2,324 crore in the first quarter of the
Here are 10 things to know:In a regulatory filing after market hours on Wednesday, Wipro said its revenue stood at Rs
said it expects its IT services revenue to be in the range of $2,039 million-$2,080 million in the quarter ending September 30
This translates to a sequential (quarter-on-quarter) growth of 0-2 per cent, it added.The company said it has filed the draft letter of a
buyback offer with market regulator Sebi after shareholders' approval
It also said it will complete the buyback process after Sebi's nod
Wipro's board had in April this year approved the Rs 10,500-crore share buyback proposal.The company's rivals Tata Consultancy Services
Most of their revenue comes from the US and Europe markets.Events such as Brexit and the trade tussle between the US and China have slowed
these economies, threatening to squeeze the over $150-billion Indian IT services industry as well.However, some analysts say the earnings
might not boost the stock significantly
cent lower at Rs 259.70 apiece on the BSE ahead of the earnings announcement by the company, underperforming the benchmark Sensex index,
which finished up 0.22 per cent rising for a third straight session.(With inputs from Reuters)Get Breaking news, live coverage, and Latest
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