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Top News In Wipro Q3 Today - Breaking & Trending Today
Shares of Wipro surged 13 percent in intra-day deals today to hit a fresh 52-week high of ₹526.45 as the company s December quarter earnings beat estimates even though it reported a decline in its net profit for the December quarter (Q3FY24). ....
Wipro s shares surged 10% to reach a 52-week high of Rs 511.95 after the release of its Q3 results. The company s consolidated net profit declined by nearly 12% YoY to Rs 2,694 crore, while its consolidated revenue dropped 4.4% to Rs 22,205 crore. Brokerages like Jefferies and BofA maintained an Underperform rating, while Kotak Institutional Equities recommended a Reduce and Nuvama suggested a Hold . Wipro s Q4 growth guidance and continued headcount declines are concerning for the company. However, the company s sustainability and improved demand commentary are encouraging factors. ....
The IT major has guided for -1.5% to 1% sequential growth in its IT services business revenue. This translates to a revenue of $2.62-$2.67 billion in the March quarter in constant currency terms. Most analysts had expected Wipro to give -1% to +1% growth in constant currency revenue. ....