Sunday, May 26, 2024

Wipro shares fall 6 pc on lower quarterly profit

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Shares of Wipro slumped more than 6 per cent on Thursday after the IT services major reported a decline in profit for the September quarter. In morning trade, the scrip declined 6.18 per cent to Rs 382.55 on the BSE and 6.20 per cent to Rs 382.60 on the NSE. On both the bourses, the company’s shares hit their respective 52-week lows in early trade. It reached the intra-day low of Rs 381.50 on the BSE and Rs 381.30 on the NSE.

Wipro reported a 9.3 per cent fall in net profit for the September quarter at Rs 2,659 crore on Wednesday. In the year-ago period, the same was at Rs 2,930.6 crore. However, on a sequential basis, profit rose 3.72 per cent in the quarter under review, from Rs 2,563.6 crore in the previous June quarter.

Amid overall weak investor sentiments, the 30-share benchmark Sensex was trading more than 443 points lower at 57,182.28 points in morning trade.

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