Analysts anticipate a 4% quarter-on-quarter decline in revenue for Wipro Ltd's third quarter of the current fiscal year, driven by higher-than-usual furloughs in the banking, financial services, and insurance (BFSI) and hi-tech sectors. This, combined with soft discretionary demand and cross-currency headwinds, is expected to dampen net profits. The company is set to report its October-December results on January 12, 2024.
According to five brokerages' average estimate, revenue is projected to decrease by 4% to Rs 22,408 crore. This would fall below the lower end of the management's guidance band of -1.5% to -3.5% revenue growth for the quarter. Meanwhile, Wipro's net profit is anticipated to plummet by 9% to Rs 2,756 crore.
