Wipro climbs up after reporting good Q4 results

Wipro rose 2.42% to Rs 506.50 at 9:35 IST on BSE after consolidated net profit rose 7.2% to Rs 2267 crore on 4.86% rise in total income to Rs 15033.80 crore in Q4 March 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 25 April 2017. The result was announced as per International Financial Reporting Standards.

Meanwhile, the S&P BSE Sensex was up 104.09 points, or 0.35%, to 30,047.33.

On the BSE, so far 2.95 lakh shares were traded in the counter, compared with average daily volumes of 4.3 lakh shares in the past one quarter. The stock had hit a high of Rs 513 and a low of Rs 497.50 so far during the day. The stock had hit a 52-week high of Rs 577.50 on 13 July 2016. The stock had hit a 52-week low of Rs 410 on 9 November 2016.

Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board, said that the company is confident that the recovery in energy and utilities and demonstrated strength in digital will help improve growth trajectory during the course of the current financial year.

In its outlook, Wipro expects revenues from its IT services business to be in the range of $1915 million to $1955 million for the Q1 June 2017.

The board recommended 1:1 bonus issue.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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