Q4 results: Healthcare, weak retail hits Wipro’s growth forecast

Wipro

Latest News Wipro, India’s third-biggest software services exporter, said cancellations of healthcare projects and weak retail spending in its key US market would hit revenue growth.

Headquartered in the technology hub of Bengaluru, Wipro said on Tuesday that its consolidated net profit grew 0.4 per cent to Rs 2,267 crore ($353 million) in its fiscal fourth quarter to March.

Although this was ahead of analysts’ estimates of Rs 2,119 crore, the company said revenue from its core IT services business would be $1.92 billion to $1.96 billion in the current quarter. On that basis, the company reported a revenue of $1.95 billion in the most recent quarter and revenues of $1.93 billion in the same quarter a year ago.
“We have had certain project cancellations in our healthcare business which will have an impact in (Read More)

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