Un-enthusing Performance, 1Q Outlook Signals Loss Of Momentum Wipro's 4QFY18 IT service revenue came below our estimate, with USD revenue up 2.4% QoQ at US$2,062mn (our estimate US$2,071mn). In CC terms revenue rose 1.1% QoQ, a disappointing performance coming close to lower end of guidance. On vertical front it was BFSI (+4.4% QoQ), MNT (+3.8%) and ENU (+3.2%) that clocked decent growth. On the other hand, HLS (+1.7% QoQ), CBU (+0.2%) and COMM (-5.7% QoQ) verticals pressurised revenue. Owing to provisions made for bankruptcy of a couple of clients and impairment loss, Wipro recorded a 39bps QoQ decline in its IT services EBIT margin. Consolidated EBIT margin was down 70bps QoQ, which...