Wipro dips 5% on weak revenue guidance for Q1FY19

The stock dipped 5% to Rs 274 on the BSE after the India's third-largest IT services company gave a disappointing revenue growth guidance of -2.3% to 0.1% in CC for Q1FY19.

Shares of Wipro have dipped 5% to Rs 274 per share on the BSE in early morning trade after the India's third-largest information technology (IT) services company has gave a disappointing revenue growth guidance of -2.3% to 0.1% in CC (constant- currency) terms for the April-June quarter of 2018-19 (Q1FY19).

The company posted 6.69% quarter on quarter (QoQ) drop in its net profit at Rs 18 billion for the fourth quarter of 2017-18 (Q4FY18). Gross revenues were almost flat at Rs 137.7 billion, with a growth of 0.7% over the previous quarter.

Analysts on an average expected profit