Wipro Q4 net down 5.3% q-o-q; company doesn’t give revenue guidance for June quarter

Amid the ongoing COVID-19 crisis, Bengaluru-based IT major Wipro announced that there have been no big deal cancellations in the last three months and posted a toned-down net profit of Rs 2,330 crore for the March quarter, a 5.3% decreases from Rs 2,463 in the previous quarter.

“We have been working closely with our customers to manage any discontinuity in services. It is too early to talk about how future quarters will be affected,” said Wipro CEO and MD Abidali Neemuchwala. Despite a 4.7% y-o-y increase in profit at Rs 15,710 crore, the company for the first time since its listing on NYSE in 2000, did not give any revenue guidance for Q1 FY21. On the HR front, the company did not talk about furloughs, but said that hiring will slowdown in the next quarter.