Wipro sees pressure on revenue growth in Q4; net profit falls 12% in Q3

IT major Wipro has forecast a muted sequential revenue growth of -1.5 per cent to 0.5 per cent in constant currency for the fourth quarter ended March 2024 as deal ramp ups and client decision making are yet to gain pace.

Margins for the second quarter are likely to be “range-bound” similar to the last few quarters, the management said during a media briefing.

Bengaluru-based Wipro posted a net profit of Rs 2,700 crore for the third quarter ended December 2023, down 12 per cent from a year ago but up 1.2 per cent quarter-on-quarter (Q-o-Q), above the consensus Bloomberg estimates of Rs 2,685 crore.