Wipro shares fall 7% on lower quarterly profit

Shares of Wipro on Thursday dipped 7 per cent after the IT Services major reported a decline in profit for the September quarter.

On the BSE, the stock fell 7.03 per cent to end at Rs 379.10 apiece.

The scrip tanked 6.95 per cent to settle at Rs 379.60 apiece on the NSE.

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On both the bourses, the company's shares hit their respective 52-week lows in early trade. It further reached the intra-day low of Rs 381.50 on the BSE and Rs 381.30 on the NSE.

Wipro reported a 9.3 per cent fall in net profit for the September quarter at Rs 2,659 crore on Wednesday. In the year-ago period, the same was at Rs 2,930.6 crore.

However, on a sequential basis, profit rose 3.72 per cent in the quarter under review, from Rs 2,563.6 crore in the previous June quarter.

The 30-share BSE Sensex ended 390.58 points lower at 57,235.33 points on Thursday.