Wipro shares fall 2 pc, mcap drops by Rs 2,597 cr after Q4 results

Shares of Wipro today fell by 2 per cent after the company posted over 20 per cent decline in consolidated profit for the March quarter of 2017-18.

The stock slipped 2 per cent to end at Rs 281.45 on BSE. During the day, it went down by 4.56 per cent to Rs 274.10.

On NSE, shares of the company fell by 2 per cent to close at Rs 281.35.

The company's market valuation dropped by Rs 2,597.22 crore to Rs 1,27,325.78 crore.

In terms of equity volume, 5.31 lakh shares of the company were traded on the BSE and over 95 lakh shares changed hands on the NSE during the day.

Wipro yesterday posted over 20 per cent decline in consolidated profit to Rs 1,800.8 crore for the March quarter of 2017-18.

The software services firm had registered a profit of Rs 2,267 crore in the year-ago period, as per Indian accounting norms.

Its total income was down 4.9 per cent at Rs 14,304.6 crore in the fourth quarter of the last fiscal, compared to Rs 15,045.5 crore in the January-March period of 2016-17.