Press Esc to close
Wednesday 25 May 2016
News updated at 1:04 AM IST
Weather
Max: 34.1°C
Min : 22.7°C
In Bengaluru
Sunny day

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
Girls cover themselves during a dust storm in mathura on Monday...

Girls cover themselves during a dust storm in mathura on Monday...

Renowned sand artist Sudarsan Pattnaik creates a sand art to aware people about water scarcity...

Renowned sand artist Sudarsan Pattnaik creates a sand art to aware people about water scarcity...

English actor Sir Ian McKellen and Bollywood actor Aamir Khan share lighter moments...

English actor Sir Ian McKellen and Bollywood actor Aamir Khan share lighter moments...

A senior Army Officer presents the Sher-e-Kashmir Sword of Honour to a new recruit...

A senior Army Officer presents the Sher-e-Kashmir Sword of Honour to a new recruit...

People watching the air ambulance which crash landed at Kair village in Najafgarh area...

People watching the air ambulance which crash landed at Kair village in Najafgarh area...

Demi Moore poses for photographers as she arrives for The Vogue 100 Gala Dinner...

Demi Moore poses for photographers as she arrives for The Vogue 100 Gala Dinner...

Nuremberg and Frankfurt players jump for the ball during a German first division Bundesliga soccer..

Nuremberg and Frankfurt players jump for the ball during a German first division Bundesliga soccer..

People hang fish to dry on bamboo poles in Mumbai...

People hang fish to dry on bamboo poles in Mumbai...

A cyclist with his daughter pedals his cycle holding an umbrella...

A cyclist with his daughter pedals his cycle holding an umbrella...

An elderly vendor waits for customers of green grass during rains in Srinagar....

An elderly vendor waits for customers of green grass during rains in Srinagar....

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