Indian IT software services company Wipro will declare its June 2016 quarter results on Tuesday. The company's IT revenues performance will be in focus on the basis of the guidance given by the company.
The Bangalore-based company had said its IT revenues will be in the range of $1,901 million to $1,939 million, while the company expects to achieve a sequential revenue growth between 1 to 3 percent in constant currency terms.
Wipro's dollar revenue growth from IT services was up 0.2 percent in constant currency terms for the corresponding quarter (June 2015) last year.
In the April-June quarter of FY16, Wipro's revenues in dollar terms stood at $ 1,794.1 million, recording a 3.1 percent year-on-year (YoY) growth while the net profit stood at $344 million.
The Azim Premji-led IT firm's revenues in rupee terms came at Rs. 12,237.6 crore, a 9.8 percent YoY growth while the company achieved a profit of Rs. 2,187.7 crore, up 4 percent on a YoY basis for the quarter ended June 2015.
On Thursday, Infosys lowered its revenue guidance for financial year 2016-17 to 10.5-12 percent from the earlier 11.5-13 percent while TCS has not provided its revenue guidance.
Both Infosys and TCS recorded upbeat growth in terms of revenues YoY. While Infosys posted a 16.9 percent YoY growth in revenues, TCS revenues were up by 14.16 percent on a YoY basis. However, the two IT companies recorded a decline in net profits on a sequential basis.
Wipro shares stood at Rs. 554.65, down 2.8 percent from the previous close at Rs. 570.70. Shares of Infosys, TCS, Wipro had plunged following the less-than-expected results from Infosys on Friday.