Wipro’s Q1 net profit up 12% to Rs 2,870 crore, misses estimates

Wipro on Thursday reported quarter-on-quarter fall in its net profit and revenue for the first quarter ended June amidst weak performances by key verticals like financial services and communications with clients postponing discretionary spending in the short term.

India’s fourth-largest software company expects revenue in the ongoing fiscal quarter to be between a sequential fall of 2% and a growth of 1% in constant currency, or without forex fluctuations.