Wipro is likely to take a beating when the market commences on Thursday as analysts expressed disappointment over its just-released numbers.
Early today, India's largest IT company in terms of market capitalisation and Bangalore-based Wipro said Q4 ended 31 March 2003 net profit fell 0.94% to Rs 209.5 crore (Rs 2.09 billion) on a revenue of Rs 1,227.6 crore (Rs 12.27 billion).
A capitalmarket.com analysts poll had estimated a rise in net profit to Rs 241-263 crore (Rs 2.41-2.63 billion).
Wipro's revenues rose 35.7% to Rs 1,227.6 crore (Rs 12.27 billion) against projections of Rs 1,191 crore-Rs 1,227 crore (Rs 11.91-12.27 billion) for the quarter.
Software analysts are disappointed with the company's bottom line, but pleased with the company's top line growth.
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