Wipro declines after reporting Q2 results

Wipro declined 1.77% to Rs 567.70 at 9:30 IST on BSE after consolidated net profit rose 7% to Rs 2240 crore on 7% growth in gross revenue to Rs 12510 crore in Q2 September 2015 over Q2 September 2014.

The results are as per International Financial Reporting Standards (IFRS). The company announced the results after market hours on Wednesday, 21 October 2015.

Meanwhile, the S&P BSE Sensex was up 218.26 points or 0.8% at 27,505.92.

On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 88,966 shares in the past two weeks.

Shares of IT firm hit a high of Rs 577.80 and a low of Rs 566.35 so far during the day. The stock hit a 52-week high of Rs 676.90 on 11 March 2015. The stock hit a 52-week low of Rs 512.55 on 24 April 2015.

Wipro's revenue from IT services business rose 2.1% to $1.83 billion in Q2 September 2015 over Q1 June 2015. The sequential growth stood at 3.1% in constant currency terms. Wipro expects revenue from its IT services business to be in the range of $1.84 billion to $1.87 billion in Q3 December 2015. The company added 67 new customers in its IT services business in Q2 September 2015.

Wipro is one of the leading IT services provider.

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