Wipro net profit down 9.27% in second quarter

Wipro on Wednesday missed estimates when it reported a 9.27 per cent drop in consolidated net profits for the second quarter September 30.

Net profit of the Bangalore-based firm stood at Rs 2,659 crore against Rs 2,930.7 crore in the same period of the previous year.

Brokerages like Axis Securities had expected the company to post a net profit of Rs 2,800 crore.

During the period, its revenue came in line with analyst projections as it rose to Rs 22,539.7 crore over Rs 19,667.4 crore in the year-ago period.