Wipro Ltd quarterly profit reached as per the analysts expected even as margin narrowed because of a stronger rupee. The country’s third-largest software services provider said in an exchange filings that the net profit fell 1.1 percent over the preceding quarter to Rs 2,483 crore in the January to March period.
Earnings before interest and taxes of the Bengaluru-based company fell 2.7 percent over the previous quarter to Rs 2,701 crore. That’s against the Rs 2,749-crore estimate. Its margin contracted 60 basis points sequentially to 17.8 percent.
The company forecasts its IT services revenue for the quarter-ending June to be in the range of $2,046-2,087 million—a sequential growth of -1 to 1 percent. The company’s IT services revenue grew 5.4 percent in constant currency terms on a full-year basis.
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