January 18, 2013 / 4:10 AM / 5 years ago

India's Wipro shares fall as much as 5 pct after results

Jan 18 (Reuters) - Shares in India’s No.3 software services provider Wipro Ltd 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 0400 GMT, Wipro was down 3 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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below