Wipro Q4 net profit falls 7.8% to Rs 2,835 cr; new CEO flags uncertainty in macro environment

New Delhi, April 20, 2024.

IT service company Wipro on Friday reported a 7.8 per cent year-on-year decline in its consolidated net profit for the March quarter to about Rs 2834.6 crore, and cautioned that the macroeconomic environment remains “uncertain”.

The Bengaluru-headquartered company, which recently saw a change of guard with Srinivas Pallia taking over at the helm as the new Chief Executive Officer, has given IT Services revenue growth guidance in the (-)1.5 per cent to +0.5 per cent band for June quarter on a constant currency basis.

While the numbers were in line with the analysts’ estimates, the guidance of the company was below industry expectations.