Wipro share price settled flat in Monday’s trade even as the IT major said its profitability may be impacted by 65-75 basis points in the March quarter as one of its telecom clients is undergoing insolvency proceedings. Without naming the client, the third largest software services firm in India, led by Azim Premji, said its profitability may be impacted by 65-75 basis points in the March quarter. Without naming the client, Wipro said it had signed a multi-year outsourcing services agreement with a telecom services provider in India in 2008, which was subsequently renewed in the year 2013.
Telecom operator Aircel on February 28 had said it has filed for bankruptcy as it had been facing “troubled times” in “highly financially stresse…
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