Wipro has dipped almost 8% to Rs 407 after forecasting muted revenue growth for its key IT services unit due to a fragile global economy.
India’s No.3 software services exporter which reported $1,536 million revenues from IT services business in Q4 of FY12, expect revenues of $1,520 million to $1,550 million during the Q1 of FY13.
IT services accounted 76% of total revenue and 93% of operating income for the year ended March 31, 2012.
“The guidance is based on the exchange rates of GBP/USD at 1.58, Euro/USD at 1.31, AUD/USD at 1.07, USD/INR at 50.07," the company said in a filing to the stock exchanges.
Meanwhile, the company reported a 7.7% year-on-year (y-o-y) rise in quarterly net profit at Rs 1,481 crore for the fourth quarter ended March 2012. Total revenues grew 19% at Rs 9,869 crore on y-o-y basis.
A combined 1.9 million shares have changed hands on the counter in opening deals.
