#Wipro's ADR slumps the most in 16 years as #guidance #disappoints @yoosefkp https://t.co/6SD6yVojJu
#Wipro's ADR slumps the most in 16 years as guidance disappoints https://t.co/6SD6yVoRz2
India's Wipro lags IT peers with Q1 revenue miss, shares tumble https://t.co/euoRExU4fE https://t.co/ZYIPfyZKEl
Wipro reported its Q1 FY25 earnings, revealing a 4.6% year-on-year increase in net profit to Rs 3,003.2 crore. However, the company's revenue fell 3.8% to Rs 21,963.8 crore, missing the CNBC-TV18 poll estimate of Rs 22,208 crore. Quarter-on-quarter, revenue declined by 1%, with constant currency revenue growth seen at 0.3% QoQ. Following the earnings announcement, Wipro's ADR dropped 8% as the revenue miss and disappointing Q2 FY25 guidance, which hints at flat to slight growth, led to investor concerns. This marks the most significant slump in Wipro's ADR in 16 years.
