Logo


No respite in sight for Wipro

Weak revenues, forecast to weigh on the stock price

No respite in sight for Wipro

Unlike Infosys, Wipro put up a dismal show in the quarter ended March. Weak organic growth, muted show in the US market, and flat performance of the finance solutions vertical pulled down Wipro's overall revenues. The company's constant-currency revenues grew 2.7 per cent, lower than expectations of three-four per cent. This growth is also at the lower end of its own forecast of two-four per cent. Analysts say a large part of the revenue growth (2.2 per cent) came from acquisitions, meaning a measly 0.5 per cent organic growth in the quarter. More, the revenue growth forecast of ...