TCS, Infosys, Wipro, HCLTech employee count drops by 21,000 in second quarter
As of the first half of FY24, all the four companies cumulatively lost around 39,000 employees. This is a significant drop in headcount, compared to the first half of last fiscal, when these companies together added 81,650 people
Read MoreWipro Q2 disappoints, earnings weakness to continue. Should you buy, hold or sell stock?
Analysts expect Wipro’s FY24 topline growth to be the lowest among Tier-1 IT services firms following a drop in profit and revenue and a weak Q3 guidance. There are clear signs of market share loss, HSBC has said
Read MoreLagging peers, Wipro’s revenue falls 4.8% in Quarter 2 – Times of India
India Business News: Wipro, an Indian IT company, has reported a decline in revenue for the third consecutive quarter. In the September quarter, the company’s revenue decl
Read MoreWipro share price falls over 4% post Q2 results; should investors buy, sell or hold the stock? | …
Wipro share price declined 3 per cent to close at ₹395.20 on BSE on Thursday, October 19, a day after the IT company released its July-September quarter (Q2) earnings.
Read MoreCut cut cut: Indian IT firms slash revenue guidance across the board as growth sputters
Companies have continued to cut their guidance due to the demand environment, a weak H1, longer deal closure timelines, and more
Read MoreWipro Q2 results LIVE Updates: PAT at Rs 2667 cr; co sees Q3 IT services revenue growth at …
A challenging global environment, slower ramp-up of deals, and weakness particularly in the financial services sector are likely to have weighed upon Wipro’s performance in the September quarter.Wipro’s consolidated net profit may rise 10.3% on year to Rs 2,933 crore in the September quarter, according to the average of estimates given by nine brokerages, and revenue is expected to grow just 1.3% to Rs 22,828 crore.Sequentially, the topline is expected to be flat, while profit is likely to rise 2.2%, the estimates showed.Investors will see if the company has managed to meet its earnings guidance for the quarter.Based on Wipro’s guidance, revenue was likely to fall up to 2% at the lower end and grow just 1% at the upper end, in constant currency terms.
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