Among midcaps, Mindtree was down nearly 3 per cent at Rs 749.55.
On Wednesday, Wipro posted a 6.3 per cent year-on-year (YoY) decline in its net profit at Rs 2,326.1 crore. On a sequential basis, the numbers slipped 5.28 per cent. Gross revenue for the firm stood at Rs 15,711 crore, up 4.69 per cent as against the same period last year.
IT services revenue, which accounts for more than 95 per cent of Wipro's gross revenue now, was at $2.073 billion, a decline of 1 per cent on a sequential basis. The actual revenue fell to the lower end of the company's earlier guidance.
Owing to the uncertainty around the course of the Covid-19 pandemic, the IT company refrained from giving any revenue guidance for the first quarter of the financial year 2020-21 (FY21).
"Due to the uncertainty around the course of the Covid-19 pandemic, we do not have visibility into the extent to which it will disrupt our operations, and we have decided to not provide revenue guidance for the quarter ending June 30. We anticipate that we will resume providing revenue guidance when we have increased certainty of both demand- and supply-side factors," the press release said. READ MORE