Wipro slips 5% as Q2 $ rev growth underperforms peers

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Moneycontrol Bureau

Shares of Wipro slipped 5 percent intraday in the special Mahurat trading to mark beginning of Samavat 2071. The Software services firm's second quarter (July-September) net profit declined nearly 1 percent sequentially (up 8 percent year-on-year) to Rs 2,098.3 crore dented by higher tax and finance expenses, and reconciling items. Profit in the previous quarter was Rs 2,118 crore.

IT services revenue in rupee terms grew by 4 percent quarter-on-quarter (up 8.5 percent on yearly basis) to Rs 10,923 crore during the quarter. IT services revenue (non-GAAP constant currency) in dollar terms climbed 1.8 percent sequentially (up 8.6 percent year-on-year) to USD 1,771.5 million, which was within the company's guidance range of USD 1,770 million to USD 1,810 million but lower than estimates of USD 1,783 million (according to the average of estimates of analysts polled by CNBC-TV18).

Wipro underperformed its peers in dollar revenue growth. TCS had reported 6.4 percent, Infosys 3.19 percent and HCL Technologies 1.9 percent growth in dollar revenue on sequential basis.

Wipro said it expects IT services revenue in the range of USD 1,808-1,842 million for October-December quarter of the current financial year 2014-15.

"Business leaders in the US continue to exhibit increased confidence on growth prospects. Clients are increasingly looking to drive business value from their technology investments," said Azim Premji, Chairman.

At 19:03 hrs Wipro was quoting at Rs 560.90, down Rs 20.80, or 3.58 percent on the BSE.