scorecardresearchWipro shares fall 6% on lower quarterly profit

Wipro shares fall 6% on lower quarterly profit

Updated: 13 Oct 2022, 01:29 PM IST
TL;DR.
Wipro reported a 9.3 per cent fall in net profit for the September quarter at 2,659 crore on Wednesday. In the year-ago period, the same was at 2,930.6 crore.
Bengaluru: Thierry Delaporte, CEO and Managing Director Wipro, announces the Wipro Q2 Financial results for the Quarter ending Sept. , during press conference at the company's campus in Bengaluru, Wednesday, Oct. 12, 2022. (PTI Photo)(PTI10_12_2022_000197B)

Bengaluru: Thierry Delaporte, CEO and Managing Director Wipro, announces the Wipro Q2 Financial results for the Quarter ending Sept. , during press conference at the company's campus in Bengaluru, Wednesday, Oct. 12, 2022. (PTI Photo)(PTI10_12_2022_000197B)

(PTI) 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 382.55 on the BSE and 6.20 per cent to 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 381.50 on the BSE and 381.30 on the NSE.

Wipro reported a 9.3 per cent fall in net profit for the September quarter at 2,659 crore on Wednesday. In the year-ago period, the same was at 2,930.6 crore.

However, on a sequential basis, profit rose 3.72 per cent in the quarter under review, from 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.

First Published: 13 Oct 2022, 01:29 PM IST