Wipro Q3 profit misses estimates as one-time charges drag profit

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Wipro, India’s fourth-largest technology outsourcing company, missed third-quarter profit estimates due to restructuring costs and one-time charges linked to the implementation of the new labour code. The company, however, marginally raised its guidance for the March quarter.

Net profit declined 7% on-year and 4% sequentially to ₹3,119 crore in the three months to December.

An ET poll of brokerages had forecast Wipro to report a 4% OoQ rise in net profit and a 5.1% sequential increase in revenue. Brokerages expected a modest growth in profit of…



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Wipro Q3 profit misses estimates as one-time charges drag profit



Wipro, India’s fourth-largest technology outsourcing company, missed third-quarter profit estimates due to restructuring costs and one-time charges linked to the implementation of the new labour code. The company, however, marginally raised its guidance for the March quarter.

Net profit declined 7% on-year and 4% sequentially to ₹3,119 crore in the three months to December.

An ET poll of brokerages had forecast Wipro to report a 4% OoQ rise in net profit and a 5.1% sequential increase in revenue. Brokerages expected a modest growth in profit of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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