Wipro on Wednesday posted a nearly 6 per cent decline in consolidated fourth-quarter net profit at Rs 2,345.2 crore. The IT major did not give a revenue growth guidance because of uncertainties in the external environment caused by the coronavirus.

Wipro, which is the first among its peers to announce financial numbers for the quarter, said it will provide a revenue guidance after it sees some certainty on the demand and supply side factors.

The Bangalore-based company’s net profit stood at Rs 2,493.9 crore in the March quarter of 2019.

Wipro posted a 4.6 per cent rise in revenue at Rs 15,711 crore in the reporting period compared with Rs 15,006.3 crore in the year-ago period.

“We estimate that the IT services revenues for the quarter ended March 31, 2020 were negatively impacted by Covid-19 by approximately $14-16 million (0.7-0.8 per cent of revenues),” Wipro said in a regulatory filing.

The uncertainty around the course of the pandemic does not give us the visibility on how far it will disrupt the company’s operations, it added. “We have decided to not provide revenue guidance for the June quarter of 2020,” Wipro said. The company had previously guided for an up to 2 per cent increase ($2,095 million to $2,137 million) in its IT services revenue.

Wipro’s mainstay IT services revenue was $2,073.7 million, a sequential decrease of 1 per cent.

The board has not recommended any final dividend and the interim dividend of Re 1 declared in January will be considered as the final dividend for the financial year 2019-20, Wipro said, adding that the total dividend for 2019-20 remains Re 1 per equity share.

Terming the ongoing situation as “unprecedented”, Wipro CEO and MD Abidali Z Neemuchwala said: “We are confident that our broad portfolio of services and our ability to execute to our commitments makes us well-positioned to gain market share”.

Wipro’s 2019-20 net profit grew 8.3 per cent to Rs 9,771.8 crore, while revenue rose 4.2 per cent to Rs 61,023.2 crore from 2018-19.

“The quarters ahead seem challenging and require a tremendous response on costs. We also anticipate our working capital to increase, but our strong balance sheet provides us the confidence that we will emerge stronger and better,” Wipro CFO Jatin Dalal said.