Wipro shares drop by 7% after reduced quarterly profit
New Delhi: The shares of Wipro were trading at Rs 378.95 at 12.56 pm in the afternoon, down 7.11 per cent from the previous close. The IT major reported a decline of 9.27 per cent in its consolidated profit after tax at Rs2,659 crore for the quarter ended September 2022. The PAT of the firm was Rs2,930 crore in the year-ago period.The country`s largest IT major was trading in the negative on Thursday morning at Rs3,082.85, a dip of 0.60 per cent, after the earnings missed the market estimates.
Another IT major, Infosys, will also declare its earnings for the September quarter later today. However, during the quarterly earnings, Wipro reported that its consolidated revenue grew 14.6% to Rs22,540 crore as compared to Rs19,667 crore in the same period a year ago. Its operating margin for the quarter under review came in at 15.1%, an increase of 16 bps quarter-on-quarter (QoQ), the company said.
“The solid growth in our bookings, large deal signings, and revenues underscore our improved market competitiveness and enhanced value proposition,” Thierry Delaporte, CEO and Managing Director, Wipro, said.On Thursday, BSE IT was down 0.71 per cent to 27,828.01 on the BSE stock exchange. Volatility in stock markets is still prevalent as markets again declined on Thursday morning. Today`s decline was largely due to elevated inflation levels in the country.
Next Story :
-
Dalit Groom Riding Horse Faces Opposition: Police Step in for Protection
![Dalit Groom Riding Horse Faces Opposition: Police Step in for Protection]()
In Lavera village of Srinagar block, Ajmer district, a wedding procession proceeded peacefully on January 21 under heavy police protection. Around 400 police personnel were deployed to prevent potential opposition from upper-caste locals, who reportedly objected to the groom riding a horse—an act traditionally viewed as a symbol of status and equality.
-
Beti Bachao Beti Padhao Marks 10 Years of Launch
![Beti Bachao Beti Padhao Marks 10 Years of Launch]()
As India marks the tenth anniversary of the Beti Bachao Beti Padhao (BBBP) initiative, Prime Minister Narendra Modi has hailed the program’s transformative impact on addressing gender disparities and empowering the girl child. Launched on January 22, 2015, the initiative has evolved into a landmark movement for gender equality and girl-child education in India.
-
JEE Mains Exam: 3 Students Denied Entry for Arriving Late
![JEE Mains Exam: 3 Students Denied Entry for Arriving Late]()
The JEE Mains exams, necessary for admissions in prestigious engineering colleges across India, began on Wednesday, attracting thousands of eager students to exam centers nationwide. However, three students at the Ion Digital Zone Exam Center in Visakhapatnam were denied entry for arriving late.
-
Will Saif Ali Khan’s Assets Worth Rs. 15,000 Crores Be Seized? Check Details Here
![Will Saif Ali Khan’s Assets Worth Rs. 15,000 Crores Be Seized? Check Details Here]()
Hyderabad, Jan 22 (Maxim News): Bollywood actor Saif Ali Khan is in shock. The government is likely to seize assets worth Rs. 15 thousand crore belonging to the Pataudi family. The reason for this is that the Madhya Pradesh High Court has lifted the stay on the assets of the Pataudi family. The assets will be…
-
High Court Grants Permission For BRS Rythu Maha Dharna In Nalgonda
![High Court Grants Permission For BRS Rythu Maha Dharna In Nalgonda]()
The High Court has granted permission for the Rythu Maha Dharna by the BRS in Nalgonda, to be held from 11 am to 2 pm on January 28
Now you can get latest stories from Indtoday on Telegram everyday. Click the link to subscribe. Click to follow Indtoday Facebook page and Twitter and on Instagram. For all the latest Hyderabad News updates
