Wipro Ltd slips in early trade after Q1 beats forecast
Shares in Wipro Ltd, slips over 1 percent in early trade on Wednesday although the company posted forecast-beating quarterly earnings.
By Agencies | Updated:
NEW DELHI: Shares in Wipro Ltd, India's No. 3 software services exporter, slips over 1 percent in early trade on Wednesday although the company posted forecast-beating quarterly earnings.
Wipro said fiscal first-quarter profit rose 1.2 percent as foreign clients increased spending on outsourced services to cut costs and said revenue from IT services would grow.
Wipro forecast revenue from its IT services unit, which accounts for three-quarters of its total revenue, of $1.44 billion to $1.46 billion in the fiscal second quarter, indicating a rise of 2.1 to 3.5 percent from the first quarter.
At 09:26 AM, shares in Wipro were trading 1.1 per cent lower at Rs 410 on BSE.
Wipro said fiscal first-quarter profit rose 1.2 percent as foreign clients increased spending on outsourced services to cut costs and said revenue from IT services would grow.
Wipro forecast revenue from its IT services unit, which accounts for three-quarters of its total revenue, of $1.44 billion to $1.46 billion in the fiscal second quarter, indicating a rise of 2.1 to 3.5 percent from the first quarter.
At 09:26 AM, shares in Wipro were trading 1.1 per cent lower at Rs 410 on BSE.
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