Wipro shares drop over 4 per cent after disappointing Q3 earnings

Shares Wipro Ltd on Wednesday fell by over 4 per cent after the company posted 2.17 per cent dip in consolidated net profit for December 2019 quarter.

The scrip declined 4 per cent to Rs 246.65 on the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), it dropped 4.12 per cent to Rs 246.60.

The company’s earnings came in post market hours on Tuesday.

Wipro on Tuesday posted 2.17 per cent dip in consolidated net profit to Rs 2,455.9 crore for December 2019 quarter and estimated up to 2 per cent revenue growth for the fourth quarter.

Wipro’s net profit, attributable to shareholders, in the year-ago period was at Rs 2,510.4 crore.