Press Esc to close
Friday 09 December 2016
News updated at 10:30 PM IST
Weather
Max: 28.9°C
Min : 18.4°C
In Bengaluru
Partially cloudy

Wipro slumps over 11%; m-cap dips Rs 7,712 cr post earnings

Mumbai, Apr 22, 2013, (PTI):
Shares of IT major Wipro Ltd today slumped over 11 per cent, wiping off Rs 7,712 crore from its market cap after lower-than-expected results on revenue as well as on margin front.

After making a weak opening, shares of the company further lost 11 per cent to Rs 328 on the BSE, in an overall strong stock market.

The stock was the top loser among the 30-Sensex components in the morning trade.
At NSE, the scrip tanked 11.25 per cent to Rs 327.50.

Led by the steep loss in the share price, Wipro's market value tumbled Rs 7,712 crore to Rs 83,084 crore.

"For 4Q FY13, Wipro came out with lower-than-expected set of results on revenue as well on margin front. For Q1 FY14, the management's USD revenue guidance is also below our and street expectations as Q1 traditionally is a strong quarter for IT companies," Angel Broking said in a report.

Wipro had on Friday reported 16.73 per cent increase in net profit to Rs 1,728.7 crore for the fourth quarter ended March 31, 2013.

The country's third largest software services firm's net profit stood at Rs 1,480.9 crore in the year-ago period.

The consolidated total income of the company rose by 13 per cent to Rs 9,613.1 crore for the January-March quarter in 2013-13 fiscal against Rs 8,506.1 crore in the same period of 2011-12 fiscal.

The company has said it expects revenues from its IT services business to be in the range of USD 1.575-1.610 billion for the first quarter (April-June) of the current fiscal.

In the broader market, the BSE benchmark Sensex was trading at 19,106.97, up 90.51 points at 1130 hrs

 

Go to Top

Photo Gallery
Artistes perform during the International Gita Mahotsav-2016 in Kurukshetra...

Artistes perform during the International Gita Mahotsav-2016 in Kurukshetra...

Tibetan spiritual leader, the Dalai Lama at the inauguration of a four-day seminar on legacy...

Tibetan spiritual leader, the Dalai Lama at the inauguration of a four-day seminar on legacy...

Two rats gather in a shrub at the Saint Jacques Tower park, in the center of Paris...

Two rats gather in a shrub at the Saint Jacques Tower park, in the center of Paris...

A wrecked bus after meeting with an accident on the Delhi-Agra National highway due to fog...

A wrecked bus after meeting with an accident on the Delhi-Agra National highway due to fog...

Smoke rises from the house where two Lashkir-e-Toiba (LeT) militants were hiding...

Smoke rises from the house where two Lashkir-e-Toiba (LeT) militants were hiding...

Huge cash seized by the Income Tax department after it conducted searches in Chennai...

Huge cash seized by the Income Tax department after it conducted searches in Chennai...

The carcass of elephant Sidda being shifted in a lorry for the burial at the Manchanbele dam...

The carcass of elephant Sidda being shifted in a lorry for the burial at the Manchanbele dam...

A heater is placed in the enclosure of a tiger to keep big cat warm during cold day at Sanjay...

A heater is placed in the enclosure of a tiger to keep big cat warm during cold day at Sanjay...

Umpire Paul Reiffel is helped by support staff after he was hit by ball during fourth test...

Umpire Paul Reiffel is helped by support staff after he was hit by ball during fourth test...

TMC members during a protest to observe a 'Black Day' against demonetization...

TMC members during a protest to observe a 'Black Day' against demonetization...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523