Net profit at Wipro fell 7.6% in Q4 while Q1 growth was moderate

With a net profit of Rs 2,858.2 crore, down 7.6% YoY from Rs 3,093.5 crore in the same period last year, Wipro posted a poor fourth quarter. The IT giant’s operating revenue in Q4 FY24 was Rs 22,208.3 crore, a 4.2% decrease from Q4 FY23’s Rs 23,190.3 crore.

According to Wipro’s forecast, “revenue from our IT Services business segment will be in the range of $2,617 million to $2,670 million*” for the next quarter. In constant currency terms, this corresponds to consecutive guidance of (-)1.5% to +0.5%.