Wipro shares fall 4%
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New Delhi: Shares of IT services company Wipro on Thursday declined more than 4 per cent after the firm’s September quarter earnings failed to meet market expectations.
The stock fell 4.24 per cent to Rs 390.10 apiece on the BSE. On the NSE, it declined 4.25 per cent to Rs 390.10 per piece. The stock was the biggest laggard among both the BSE Sensex and NSE Nifty firms during the morning trade. The company’s quarterly earnings came in after market hours on Wednesday.
IT services company Wipro on Wednesday reported an almost flat consolidated net profit at Rs 2,667.3 crore for the September quarter, trailing street expectations, and projected up to 3.5 per cent fall in revenue in the current quarter on weak global economic outlook and uncertain business environment. The company had posted a profit after tax of Rs 2,649.1 crore a year ago.
