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Wipro result very poor with profit and revenue below expectation: Mahantesh Sabarad
Wipro's performance in Europe has been disappointing, with execution delays being the root cause. Both profit and revenue figures have dropped. The weakness is expected to continue in Wipro's consulting business, particularly in Europe. The company's guidance for Q3 FY24 is also lower than expected, with a range of -3.5% to -1.5% in constant currency terms. This is seen as a disappointment, as analysts were hoping for a guidance starting from 0 to 1.5%. Overall, the guidance and performance of Wipro have been underwhelming.
