With Infosys’ Q3 earnings beating the Street’s estimates, the focus now turns to Wipro results, which will be released on 18 January.While it is widely expected that Wipro — India’s third largest IT firm — will not be able to spring any surprise in its revenue growth for the December quarter, investors may look for impact of Chennai floods on its income.India’s third largest IT firm Wipro also gave a similar warning about its Q3 earnings following floods in Chennai. The company had said that increase in costs due to deployment of business continuity plans would impact revenues and operating margins for the quarter ended December 2015.The Bengaluru-based IT giant is expected to post a 0.5% growth in dollar revenue for the October-December quarter on a sequential basis, according to an analysts’ poll conducted by CNBC-TV18.Wipro’s dollar revenue stood at $1,831.9 million in the second quarter of the current fiscal year.In constant currency terms, dollar revenue is likely to come at around 1-1.2% against guidance of 0.5-2.5% ($1841-1878 million), due to Chennai floods’ impact witnessed in December last year.Wipro has a headcount of about 22,000 people in its facilities in Chennai.”Revenues from our IT Services business are expected to be in the previously communicated range of $1,841 million to $1,878 million; However, we expect revenues to be in the lower half of the guidance range,” the company had said in the statement.Analysts expect the acquisition of Designit to slightly contribute to Wipro’s revenues in the third quarter. Wipro had acquired Designit, a Denmark-based global strategic design firm, in July last year to improve its income from the emerging digital vertical.In rupee terms, Wipro’s Q3 revenue is expected to increase by 2.7% to Rs 12,371 crore compared to Rs 12,042.8 crore in the September quarter.However, a depreciation in rupee during the quarter is expected to partly offset the impact of Chennai floods on its margins.
Bangladesh Awami League general secretary Obaidul Quader. File PhotoAwami League general secretary Obaidul Quader on Sunday said the convicted people should not contest the upcoming national election on moral grounds, reports UNB.”It’s better for the convicted persons to stay away from the election on moral grounds. Awami League doesn’t support it morally,” he said while addressing a press briefing at party chief’s Dhanmondi political office.The Appellate Division of the Supreme Court on Sunday stayed a High Court order that had allowed a convicted person to take part in the national election, blocking the way for those sentenced to over two years’ imprisonment to join the upcoming parliamentary elections billed for 30 December.Following the apex court’s verdict, many BNP leaders, including its chairperson Khaleda Zia, cannot participate in the election as they were convicted in various cases.Describing Jatiya Oikya Front’s ‘failure’ to announce its prime minister candidate before the election as its primary defeat, Quader said, “Although there’re many leaders in the platform, there’s no one who can take the responsibility of the prime minister.”He said BNP’s announcement to launch a movement just before 25 days of the election is nothing but a nightmare. “People are now in an election mood, they’re not in a movement mood,” he said, alleging that BNP is trying in many ways to destabilise the situation.The ruling party leader also claimed that Awami League depends on people’s strength while BNP on rumour. “As BNP has less confidence in people, they depend on rumour.””The difference between a communal party and non-communal one is now clearer than in the past. The people of Bangladesh will choose the right one for their betterment. We don’t believe that people will vote for the party which patronises communalism and militancy in the name of politics,” he said.Quader also warned that those will remain in the election race going against the party decision will be expelled from the party for life.