Wipro Q4 net jumps 38% to ₹2,483 crore on BFSI growth

Wipro reported a 38 per cent increase in its fourth-quarter profit on the back of good performances on the banking and insurance front. It also announced a ₹10,500-crore buyback programme.

The BFSI (banking, financial services and insurance) segment contributed 30.9 per cent of overall revenues.

India’s third largest software exporter gave a guidance in the range of -1 to 1 per cent growth for the first quarter of FY20. Brokerage houses, who were expecting a guidance in the range of 0-3 per cent, were disappointed.