Wipro share price falls over 6% after December quarter results

The stock fell 6.27 per cent to Rs 648 on both the BSE and the National Stock Exchange (NSE) during morning deals.

Wipro Share Price: Wipro shares fell over 6 per cent in morning deals on Thursday after the company reported a profit of Rs 2,969 crore for the third quarter ended December (Q3), up from the same period last year. 2,968 crore recorded during the quarter, marginally higher. , Net profit rose 1.3 per cent on a sequential basis.

The stock fell 6.27 per cent to Rs 648 on both the BSE and the National Stock Exchange (NSE) during morning deals.

At 11:05 am, Wipro stock was trading at Rs 650.70, down by Rs 40.65 (5.88 per cent) on both BSE and NSE. The market capitalization of the company as per data available on NSE is Rs 3,56,669 crore.

Over 1.69 crore shares of the IT major were traded on the NSE in intraday trade on Thursday, while over 10.89 lakh shares exchanged hands on the BSE, data from respective stock exchanges showed.

Wipro CEO and Managing Director Thierry Delaporte said the company has decided to close its offices globally for the next four weeks “as a proactive measure” in the backdrop of the fast-spreading Omicron variant of the coronavirus.

In October last year, the company had mentioned that it was starting to return to offices in many parts of the world. The company has then said that the return to office will be a careful and gradual process.

For the March quarter (Q4), the company expects revenue from the IT services business to be in the range of $2,692 million to $2,745 million, translating into a sequential growth of 2-4 per cent.

Revenue from operations grew 29.6 per cent to Rs 20,313.6 crore from Rs 15,670 crore for the quarter ended December 2020. Sequentially, it was higher by 3.2 percent.

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