Wipro Shares Fall 4% As Results Disappoint
Shares in Wipro fell more than 4 per cent as results of the company lagged estimates with projected dollar revenues showing muted growth.
The stock was down 4 per cent at Rs 554 on the National Stock Exchange. The company reported net profits of Rs 2272 crores for the quarter ending March 31, 2015, which was a tad below estimates. BSE 548.100.9 (-0.16%) NSE 547.951.1 (-0.20%)
Revenues at the company rose by by 0.7 percent to Rs 12,171.4 crore compared to December quarter.
The dollar IT revenue for the quarter ending March 31, 2015 came in at $1774.5 million, which was also largely in line with estimates.
Wipro has said that Rishad Azim Premji is appointed as Whole-time Director of the Company with effect from May 01, 2015.
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Story first published: Wednesday, April 22, 2015, 11:06 [IST]