Going ahead, a good order book, a strong deal pipeline and the company's continued focus on cost optimisation are expected to help
India's most valuable stock Reliance Industries rose about 1.1% ahead of an annual general meeting due later in the day
On a sequential basis, revenue declined 5 per cent.
In its result announcement on Tuesday, Wipro said some of its verticals have started witnessing green shoots.
It will be the first quarterly result announcement by the company under its new CEO, Thierry Delaporte, who took charge of the firm earlier this month.
All that happened in the markets today
Wipro on Wednesday posted a 6.3 per cent year-on-year (YoY) decline in its net profit at Rs 2,326.1 crore for the quarter ended March 31, 2020
Revenue from operations stood at Rs 15,711 crore, up 4.69 per cent against Rs 15,006.3 crore in the corresponding quarter of the previous fiscal.
All that happened in the markets today
Wipro is slated to announce its Q4 numbers later in the day and most brokerages expect the company's revenue growth to come in at the lower end of the guided range of 0-2 per cent
TCS will hold its board meet the next day (April 16) for approval of its financial statements
Markets regulator Sebi has also given relaxation of 45 days to companies for filing fourth-quarter results and one-month extension to file results for 2019-20
Discretionary spend by the clients take a hit during slowdowns or uncertain business environment, as such spends are largely under the discretion of the clients
Posts better-than-expected numbers, raises revenue guidance for 3rd quarter
The IT services company has seen some improvement in its revenue growth in the last few quarters but, as per analysts, it continues to lag peers on a relative basis.
Tax cut helps, but India Inc's revenue growth falters
The major disppointment came in the form of muted revenue guidance of 0.0-2.0 per cent for Q2FY20, implying 0-2 per cent quarter-on-quarter (QoQ) growth at the lower end and upper end, respectively.
Revenue for the period came in at Rs 14,716.1 crore, up 5.28 per cent YoY.
The company had reported a net profit of Rs 2,099 crore during Q1FY19, with a gross revenue of Rs 13,980 crore. It had given a revenue growth guidance of +/- 1 per cent for the June 2019 quarter
Separation of India unit, revenue flow from Alight deal lift bottom line, margins