India's Wipro unveils record buyback after slight quarterly revenue miss


Wipro Ltd logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/Illustration

BENGALURU, April 16 (Reuters) - India's Wipro ⁠announced a record share buyback of up to 150 billion rupees ($1.61 billion) ⁠on Thursday after reporting a slight quarterly revenue miss, as clients ‌held back tech spending in energy and banking sectors while business from key customer Estee Lauder slowed.

Consolidated sales for India's fourth-largest software firm in the three months ended March 31 rose 7.7% to 242.36 ​billion rupees ($2.60 billion), missing analysts' average estimate of ⁠243.63 billion rupees, according to data ⁠compiled by LSEG.

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