New Delhi: Shares of Wipro today fell by nearly 2 per cent after the company posted a 5.8 per cent drop in consolidated net profit for the quarter ended December 31, 2016. The stock declined by 1.61 per cent to Rs 465.80 on BSE.
On NSE, it slipped 1.7 per cent to Rs 465.60. Stock markets were closed yesterday for public holiday.
Country's third largest software services firm Wipro on Wednesday had posted a 5.8 per cent drop in its consolidated net profit to Rs 2,114.8 crore for the quarter ended December 31, 2016. The company's net profit in the year-ago had stood at Rs 2,246 crore.
The Bengaluru-based firm, however, saw revenues rising 6.2 per cent to Rs 13,764.5 crore in the said quarter from Rs 12,951.6 crore in the same period a year ago, according to a filing on the BSE.
The result is as per Indian Accounting Standards. For the quarter ending March 2017, Wipro expects revenues from IT services business to be in the range of USD 1,922-1,941 million.
