Wipro, under new CEO Pallia, forecasts a 4-8% Q4 net profit decline and 4-5% sales drop due to wage hikes.
Wipro, led by new CEO Srinivas Pallia, is forecasted to report a 4-8% year-over-year fall in Q4 net profit and a 4-5% drop in sales, with EBIT margin contracting due to wage hikes. Investors will monitor improvements in deal wins to revenue conversion, senior management exits, and consulting business recovery. Analysts predict a 4.3% YoY profit decline to Rs 2,942 crore and a 3.9% sales drop to Rs 22,286 crore.
April 18, 2024
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