#GreyhoundInMedia: Wipro (@Wipro) disappoints in Q2; misses Street estimates #Press #Media @financeeveryday

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Wipro, India’s third-largest information technology (IT) services company, met its revenue growth forecast for IT services on Wednesday, but it disappointed on several parameters.In the quarter ended September 30, the Bangalore-based firm reported an eight per cent rise in at Rs 2,084 crore compared to the year-ago period. The revenue also grew eight per cent at Rs 11,680 crore on the back of strong volume growth, as well as better-than-expected performance by the global infrastructure services business.

“With a sequential growth of 1.8 per cent, we believe that this quarter has been poor and far from industry standards,” said Sanchit Vir Gogia, chief analyst and chief executive officer,Greyhound Research. “Their business continues to be a well-balanced portfolio between infrastructure and application services, but BPO, product engineering and ADM (application development and maintenance) continue to decline,” he added.

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