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<ul><li>Although <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword>’s deal wins and pipeline remained healthy, analysts lowered the target price on the stock due to revenue miss.</li><li>As a result shares of the IT firm slipped 6% and was the worst performer on the benchmark index Nifty 50.</li><li>Also, the attrition rate has gone up to 22% in Q3 with Wipro on a hiring spree.</li></ul>Shares of the Bengaluru-based IT firm Wipro saw huge sell-off today as investors were disappointed with its lower than expected revenue growth.<br /><br />Wipro registered the lowest of all revenue growth of 3% compared to TCS (4.5%) and Infosys (7%) during the October to December period. Analysts had <a href="https://www.businessinsider.in/tech/enterprise/news/infosys-is-expected-to-set-the-bar-slightly-higher-for-tcs-hcl-tech-and-others/articleshow/88703083.cms">expected a revenue growth </a>of 3.9% during the same period.<br /><br />The highest addition of large clients and revenue guidance of 2-4% failed to cheer investor’s mood.<br />              <div type="image" title="wipro share" height="900" width="1200" msid="88870781" hostid="261"></div>Analysts have lowered the share target price and future earnings expectation from Wipro factoring in the revenue miss.<br /><br />Global brokerage firm Citi has reportedly lowered FY22-FY24 earnings by 1% to factor in the weak earnings growth in the December quarter.<br /><br />Another brokerage firm JP Morgan has cut FY23/FY24 earnings per share estimate by 2%.<br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firms<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rating<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹775 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Equal-weight<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Citi<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹820 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JP Morgan<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹680 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UBS Securities<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹660 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>(Target price inputs from CNBC TV-18)<br /></em><br />The rising attrition rate turned into higher employee cost and narrower margins for the company. Not only Wipro, all other technology firms are struggling with the increasing employee cost for quite some time. <br /><br />But for Wipro, the rate of employees leaving the company has been the highest in the December quarter.<br /><br />Going forward, the IT giant is planning to hire 30,000 freshers in 2023 as the attrition rate increases to 22% from 20.5% in the last quarter.<br /><br />Further, the relentless surge of the Omicron variant of Covid-19 has forced Wipro to close its offices globally for the next four weeks.<br /><br /><strong>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-attrition-at-infosys-is-worse-than-that-at-wipro-ceo-salil-parekh-has-increased-hiring-plan-by-10000/articleshow/88856648.cms">The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000</a><br /><br /><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/tcs-vs-infosys-vs-wipro-how-indias-three-it-giants-stack-up-against-each-other/slidelist/88860676.cms">TCS vs Infosys vs Wipro Q3 results – here’s how India’s three IT giants stack up against each other</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tesla-is-facing-a-lot-of-challenges-in-entering-the-indian-market/articleshow/88868786.cms">Tesla is facing a lot of challenges in entering the Indian market, says Elon Musk</a>

Wipro shares plunge 6% after earnings disappoint street

TCS, Infosys, Wipro, Vodafone Idea, Tata Tele and other hot stocks on January 12

Infosys, Wipro, Vodafone Idea and other hot stocks in focus on October 14 as results season heats up

<keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> today said it will announce its <keyword id="6357061" type="UNKNOWN" weightage="80" keywordseo="earnings">earnings</keyword> for the fourth quarter and the fiscal ended March 2015 on April 24, a deviation from its usual practice of kicking off the corporate results season. <br />
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<br /> Instead, it will be India's largest software services firm <keyword id="6357585" type="CITY" weightage="80" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (TCS) that will announce its set of numbers on April 16. <br />
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Traditionally, Infosys was the first large-cap company to announce its results in the second week of April, July, October and January, kicking off the quarterly earnings season with its set of numbers that were announced. <br />
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Traditionally, Infosys was the first large-cap company to announce its results in the second week of April, July, October and January, kicking off the quarterly earnings season with its set of numbers that were announced. <br />
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"A meeting of the Board of Directors of the company will be held on April 24, 2015, inter alia, to consider the audited financial results for the quarter and year ending March 31, 2015," the country's second largest software services firm said in a filing to the BSE. <br />
<br /> The date for <keyword id="10862" type="CITY" weightage="80" keywordseo="Wipro">Wipro</keyword>'s results announcement could not be ascertained. <br />
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<br /> <keyword id="30331" type="CITY" weightage="80" keywordseo="HCL-Technologies">HCL Technologies</keyword> will announce the financial results for the January-March 2015 quarter on April 21. It follows the July-June fiscal. <br />
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TCS has already said it expects revenues in January-March 2015 quarter to be in line with trends in the same period last year even as currency continues to remain volatile. <br />
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However, its smaller rival, HCL Technologies expects its dollar revenues for the March quarter to see an "adverse impact" of 2.8 per cent on strengthening of the greenback against global rivals. <br />
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TCS had registered a year-on-year growth of 31.2 per cent in revenues (at Rs 21,551 crore), while HCL Technologies posted 29.8 per cent rise in revenues to Rs 8,349 crore in the January-March 2014 quarter.

You Searched For "Wipro results" and got 4 results

Wipro shares plunge 6% after earnings disappoint street

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Infosys to declare Q4 result after TCS, in a break from tradition

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