Wipro shares fall as much as 5 percent after results
REUTERS - Shares in India's No.3 software services provider Wipro Ltd (WIPR.NS) fell as much as 5 percent, with traders saying the performance of the company's core IT services segment was not as strong as expected.
Earlier on Friday, Wipro posted an 18 percent gain in third-quarter net profit, with its IT business revenue rising 2.4 percent from the September quarter to $1.577 billion and meeting its own guidance of 1.2 to 3.5 percent.
However, IT business volumes, or the billable hours, fell 1 percent from the previous quarter, according to company data.
At 9:40 a.m., Wipro was down 4.2 percent to 417.50 rupees. Ahead of the results, the shares had risen about 9 percent so far this year.
(Reporting by Abhishek Vishnoi and Harichandan Arakali; Editing by Ryan Woo)
- Tweet this
- Share this
- Digg this
- Malaysian plane still missing; questions over false IDs
- UPDATE 6-Libya threatens to bomb N.Korean tanker if it ships oil from rebel port
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- Michigan woman dead for six years found only after money runs out
- WRAPUP 2-Malaysian plane presumed crashed; questions over false IDs
PLANE GOES MISSING
A Malaysia Airlines flight carrying 227 passengers and 12 crew was presumed to have crashed off the Vietnamese coast on Saturday, and European officials said two people on board were using false identities. Full Article