Bengaluru, January 25:
Wipro has posted a modest increase in net profit as it faced headwinds from clients hesitant in investing in new technology areas, coupled with restructuring efforts in India and West Asia East businesses, but said it plans to finish the restructuring by the end-June.
The company also issued a muted revenue guidance for the fourth quarter, as it believes it will take more time for the restructuring. The Bengaluru-based IT firm expects fourth quarter IT services dollar revenue in the range of $1,922-1,941 million, a growth of 1-2 per cent over third quarter, far lower than analysts expectations. Wipro posted net profit of 2,109 crore, for the quarter ended December 31 a 1 per cent increase on the 2,0…
Read the full article at: http://www.thehindubusinessline.com/info-tech/wipro-hit-by-restructuring-client-pushback/article9502443.ece