<p>Wipro on Wednesday forecast revenue in the first quarter to decline sequentially and flagged an uncertain demand environment, echoing TCS and hinting at pressure across India's $283 billion IT sector.</p><p>India's fourth biggest IT services firm expects revenue in the April–June quarter to fall between 1.5%–3.5%, as "clients remain cautious in the face of macroeconomic uncertainty."</p><p>The country's IT sector had hoped Donald Trump's presidency would revive business confidence, but trade war uncertainty and shifting tariffs have made companies wary of large deals.</p>.Wipro bags £500 million strategic deal from UK insurance giant Phoenix Group.<p>Industry leader TCS missed fourth-quarter earnings estimates last week and warned about clients delaying decision-making in discretionary projects.</p><p>Wipro's consolidated revenue rose 1.3% to 225.04 billion rupees ($2.63 billion) in the quarter-ended March, while analysts, on average, expected revenue to come in at 226.21 billion rupees, as per data compiled by LSEG.</p><p>Mumbai-based brokerage firm Dolat Capital had expected Wipro's June-quarter revenue to range from a 1% drop to 1% growth, said analyst Rahul Jain, calling the forecast "weak".</p><p>Wipro's net profit for the quarter rose 26% to 35.7 billion rupees, compared with analysts' mean estimate of 33.38 billion rupees.</p><p>Three out of the company's five verticals fell during the quarter, led by energy, manufacturing and resources. Banking, its largest segment, continued to grow for the third straight quarter.</p><p>Deal wins for the quarter stood at $4 billion, mainly due to the $650 million Phoenix deal bagged last month. This compares with a $3.61 billion in the same period last year.</p><p>India's second-largest IT firm Infosys reports results on Thursday while third-largest firm HCLTech will report next week.</p>
<p>Wipro on Wednesday forecast revenue in the first quarter to decline sequentially and flagged an uncertain demand environment, echoing TCS and hinting at pressure across India's $283 billion IT sector.</p><p>India's fourth biggest IT services firm expects revenue in the April–June quarter to fall between 1.5%–3.5%, as "clients remain cautious in the face of macroeconomic uncertainty."</p><p>The country's IT sector had hoped Donald Trump's presidency would revive business confidence, but trade war uncertainty and shifting tariffs have made companies wary of large deals.</p>.Wipro bags £500 million strategic deal from UK insurance giant Phoenix Group.<p>Industry leader TCS missed fourth-quarter earnings estimates last week and warned about clients delaying decision-making in discretionary projects.</p><p>Wipro's consolidated revenue rose 1.3% to 225.04 billion rupees ($2.63 billion) in the quarter-ended March, while analysts, on average, expected revenue to come in at 226.21 billion rupees, as per data compiled by LSEG.</p><p>Mumbai-based brokerage firm Dolat Capital had expected Wipro's June-quarter revenue to range from a 1% drop to 1% growth, said analyst Rahul Jain, calling the forecast "weak".</p><p>Wipro's net profit for the quarter rose 26% to 35.7 billion rupees, compared with analysts' mean estimate of 33.38 billion rupees.</p><p>Three out of the company's five verticals fell during the quarter, led by energy, manufacturing and resources. Banking, its largest segment, continued to grow for the third straight quarter.</p><p>Deal wins for the quarter stood at $4 billion, mainly due to the $650 million Phoenix deal bagged last month. This compares with a $3.61 billion in the same period last year.</p><p>India's second-largest IT firm Infosys reports results on Thursday while third-largest firm HCLTech will report next week.</p>