Quarterly results of the country's famous IT company Wipro are going to be released today i.e. on Tuesday. The quarterly results will be from April 1 to June 30 of this year. This was a time when strict lockdowns were in force in the country for about two months. During this time all services were stopped.
At the same time, many clients have postponed spending on technology. In this situation, there is a possibility that the quarterly income of Wipro may decline. Meanwhile, shares of Wipro fell by almost 2 per cent on Tuesday. Similarly, due to Corona's quarterly results, there may be revenue pressure. Right now, Mindtree's shares are seen trading at 0.60 per cent.
A day before the results, on Monday, Wipro's 74th annual meeting was held online. The meeting was addressed by Wipro Chairman Rishad Premji. It was the company's first annual meeting since he took over as chairman of Wipro in July last year.
During this meeting, Rashad Premji dismissed the news of layoffs due to the Covid-19 crisis. Replying to the question of a shareholder of the company, he said, "We are trying to reduce our costs in many operational and other ways, but we have not fired any employee nor do we have any such plan right now."
With the launch of Rashid Premji's Covid-19 crisis in March, we started providing 'Work from Home' facility to 93 per cent of our employees worldwide. Premji said that in the last few months we have become accustomed to working in a new way and our entire focus is on successfully meeting the needs of the company's customers. Rishad Premji said the company has made significant investments in a digital cloud, cybersecurity and its engineering capabilities.
Let us tell you that in the fourth quarter (January-March) of Wipro's financial year 2019-20, net profit was down by 6 per cent to Rs 2,345.2 crore. At the same time, the company did not mention the income growth estimate.
