American Depository Receipts (ADRs) of Wipro fell 7% to hit a low of $2.63 on Wednesday not with standing company's Q4FY25 earnings where the IT service company reported 26% year-on-year growth in net profit at Rs 3,570 crore from Rs 2,835 crore in the year-ago period.
The profit is attributable to shareholders of the company and beat D-Street's expectations of Rs 3,290 crore.
Wipro ADR fell today tracking the weakness in the US stock markets, more so in the tech benchmark Nasdaq Composite which was down by nearly 2% in the opening trade.
The earnings were announced after Indian stock market hours and shares of Wipro today ended at Rs 247.60 on the NSE, up by Rs 3.60 or 1.48% over the Tuesday closing price.
In the analyst call later today, Wipro CEO Srini Pallia underscored that the tariffs have created uncertainty for the company's clients.
Revenue from operations in the quarter rose 1% year-on-year (YoY) to Rs 22,504 crore, compared to Rs 22,208 crore in the same period last year.
The IT services segment revenue stood at $2,596.5 million in the fourth quarter, reflecting a decline of 1.2% quarter-on-quarter (QoQ) and 2.3% year-on-year (YoY). In constant currency terms, IT services revenue decreased 0.8% QoQ and 1.2% YoY.
On a sequential basis, revenue increased by a marginal 0.8%. The profit after tax grew 6% QoQ from Rs 3,354 crore posted in the preceding December quarter.
In its guidance, the company said that it expects revenue from the IT Services business segment to be between $2,505 million and $2,557 million, implying a sequential decline of -3.5% to -1.5% in constant currency terms.
Also Read: Wipro Q4 results: Here are 10 key takeaways
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The profit is attributable to shareholders of the company and beat D-Street's expectations of Rs 3,290 crore.
Wipro ADR fell today tracking the weakness in the US stock markets, more so in the tech benchmark Nasdaq Composite which was down by nearly 2% in the opening trade.
The earnings were announced after Indian stock market hours and shares of Wipro today ended at Rs 247.60 on the NSE, up by Rs 3.60 or 1.48% over the Tuesday closing price.
In the analyst call later today, Wipro CEO Srini Pallia underscored that the tariffs have created uncertainty for the company's clients.
Revenue from operations in the quarter rose 1% year-on-year (YoY) to Rs 22,504 crore, compared to Rs 22,208 crore in the same period last year.
The IT services segment revenue stood at $2,596.5 million in the fourth quarter, reflecting a decline of 1.2% quarter-on-quarter (QoQ) and 2.3% year-on-year (YoY). In constant currency terms, IT services revenue decreased 0.8% QoQ and 1.2% YoY.
On a sequential basis, revenue increased by a marginal 0.8%. The profit after tax grew 6% QoQ from Rs 3,354 crore posted in the preceding December quarter.
In its guidance, the company said that it expects revenue from the IT Services business segment to be between $2,505 million and $2,557 million, implying a sequential decline of -3.5% to -1.5% in constant currency terms.
Also Read: Wipro Q4 results: Here are 10 key takeaways
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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