Wipro Q4 misses estimates on lower revenue, posts Rs 18 bn net profit

Wipro, India's third-largest IT services company, posted slower revenue growth in 2017-18. The weak revenue growth guidance for the April-June quarter of 2018-19 raised concerns if the company would be able to maintain its growth in this financial year.

The company posted a drop in its net profit with a marginal slide in its revenue growth for the fourth quarter of 2017-18, as slowdown in communication vertical coupled with insolvency of two of its clients dragged its performance.

Missing Street estimates, the firm posted a drop of 20.35 per cent in its net profit to Rs 18 billion against the