Wipro to deliver sub-par growth and lag peers, say brokerages

MUMBAI: India’s third largest information technology company WiproNSE 1.83 % is likely to continue to underperform peers in terms of growth given its persistent execution challenges and gloomy outlook, said brokerages following its March quarter result.

The company reported a consolidated net profit of Rs 2,483 crore, up 37.74 per cent year-on-year. Consolidated revenue rose 9 per cent to Rs 15,006.30 crore. The company also announced a Rs 10,500-crore share buyback. The company said IT services revenue for the first quarter seen in the range of $2,046-2,087 million, which translates into a sequential growth of -1 per cent to 1 per cent.