Wipro shares decline 6 per cent post Q4 earnings

Shares of IT major Wipro on Thursday dropped 6 per cent after the company posted 6 per cent decline in net profit for March quarter that was battered by the fallout of Covid-19.

The scrip plunged 6 per cent to Rs 175.30 on the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), shares of the company fell 3.51 per cent to Rs 180.

“Wipro’s results were weak along expected lines. The company desisted from its usual practice of providing quarterly revenue guidance,” Emkay Global Financial Services Ltd said in a report.

The IT major did not provide revenue forecast for the current quarter due to business uncertainty caused by the pandemic.