Wipro Shares Fall As Guidance Worries Investors

Wipro shares fell, despite the company reporting a decent set of numbers for the quarter ending Sept 30, 2015.

The shares dropped 1.7% and were last seen trading at Rs 167.85 after the management sounded cautious on the coming quarters. The management hinted at lower ramp-up in deals and the holiday season, which is traditionally a weak quarter for IT companies.

Wipro reported a 7.2 per cent growth in consolidated net profit at Rs 2,235.4 crore for the second quarter ended September 30, 2015.
The company had posted a net profit (after tax, minority interest and share of profit of associates) of Rs 2,084.8 crore in the year-ago period, the IT firm said in a statement.

Net sales rose by 6.3 per cent to Rs 12,566.8 crore in July-September quarter this fiscal from Rs 11,816 crore in the same period a year ago, it added. In dollar terms, the revenue from IT services registered a quarter-on-quarter growth of 2.1 per cent at USD 1.83 billion, in line with its guidance of USD 1.82 million to USD 1.85 million.

GoodReturns.in with inputs from PTI

Story first published: Friday, October 23, 2015, 11:02 [IST]

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