Wipro forecasts Q3 revenue to grow by 1.3%-3.2%

BANGALORE: India's third-ranked information technology company Wipro said it expects its IT revenues to grow between 1.3% and 3.2%in the third quarter, much lower than rivals like TCS and HCL, who have forecast revenue growth of 3.5%-4.5%.

But it is higher than the 0.7%-2.3% the company had forecast for the second quarter. The third quarter is generally a lean quarter for many IT companies due to lower number of billing days and the holiday season.

Wipro posted revenues of $1.54 billion for the second quarter, in line with its guidance but lagging behind peers, such as TCS, Infosys and HCL Tech.

In contrast to Wipro's 1.7% sales growth in the second quarter, HCL Tech posted a 3.2% rise. India's largest IT services company TCS, however, was the leader with its 4.6% sales growth.