Wipro trades lower on 3% dip in Q3 profit, muted revenue guidance

The company guided lower-than-expected revenue growth of 0 per cent to 2 per cent in constant currency terms sequentially.

Wipro shares slid 4 per cent to Rs 246 on the BSE on Wednesday on disappointing revenue guidance for January-March quarter (Q4FY20). The company guided lower-than-expected revenue growth of 0 per cent to 2.0 per cent in constant currency terms, sequentially.

The IT firm reported a 3.2 per cent year-on-year (YoY) decline in net profit at Rs 2,463 crore for the December quarter (Q3FY20) and attributed this to lesser interest income owing to cash outgo as part of its buyback programme.

However, Wipro met analysts' estimates in other metrics and posted growth in revenues and operating margin. In Q3FY20,