Wipro drops after declaring Q3 result

Wipro lost 2.51% to Rs 337.50 at 11:26 IST on BSE after company declared its Q3 result after market hours on Friday, 18 January 2019.

Meanwhile, the S&P BSE Sensex was up 218.99 points, or 0.6% to 36,605.60 On the BSE, 4.03 lakh shares were traded in the counter so far compared with average daily volumes of 4.29 lakh shares in the past two weeks. The stock had hit a high of Rs 342 and a low of Rs 333.70 so far during the day.

Wipro’s consolidated net profit rose 32.89% to Rs 2510.40 crore on 3.17% rise in total income to Rs 15687.50 crore in Q3 December 2018 over Q2 September 2018.

Wipro’s board of directors recommended issue of bonus shares to shareholders (including stock dividend to ADS holders) in the ratio of 1:3 (one equity share for every three equity shares held).

Abidali Z. Neemuchwala, CEO and Executive Director, Wipro said that the company’s strategic investments, backed by strong client relationships and client spends towards enterprise modernization and digital transformation have enabled it to deliver a very satisfying quarter.

Wipro is a leading global information technology, consulting and business process services company.