Wipro shares gain nearly 4% post Q1 earnings

Shares of Wipro rose nearly 4 per cent Thursday after the company posted a 12.5 per cent rise in consolidated net profit for the April-June quarter.

The scrip gained 3.64 per cent to close at Rs 269.15 on the BSE. During the day, it jumped 5.50 per cent to Rs 274.

On the NSE, shares rose by 3.13 per cent to close at Rs 267.75.

It was the top gainer among the 50-Nifty frontline companies.

In terms of the traded volume, 9.25 lakh shares were traded on the BSE, over two crore units on the NSE during the day.

Wipro Wednesday posted a 12.5 per cent rise in consolidated net profit at Rs 2,387.6 crore for the April-June quarter and guided for up to 2 per cent sequential revenue growth for the July-September period.

Its revenue increased by about 5.3 per cent to Rs 14,716.1 crore during the reported quarter, compared to Rs 13,977.7 crore in the year-ago period. The Bengaluru-based company's consolidated income rose by about 5 per cent to Rs 15,566.6 crore during the reported quarter.

For the July-September quarter, Wipro expects its IT services revenue to be in the range of USD 2,039 million to USD 2,080 million -- translating into a sequential growth of up to 2 per cent.