IT services major Wipro is expected to report a 12% year-on-year (YoY) rise in revenue for the June quarter, helped by acquisitions and currency movements, even as its core IT services business is likely to remain weak on a sequential basis. Net profit is estimated to grow about 2% from a year earlier, according to the average estimates of six brokerages.
Analysts expect delayed deal ramp-ups, weakness in banking and financial services, wage increases and investments in artificial intelligence to weigh on profitability. The focus will be on Wipro’s guidance for the September quarter, the pace of conversion of large deal wins into revenue and management commentary on demand in the US and Europe.
