Wipro dips 2% post Q1 nos

Wipro has dipped 2% to Rs 408 after reporting a 2.9% quarter-on-quarter drop in consolidated net profit to Rs 1,335 crore for the first quarter ended June 2011, against Rs 1,375 crore in the previous quarter.

The consolidated revenues went up over 3% to Rs 8,564 crore from Rs 8,302 crore quarter-on-quarter, India's third largest software services provider said in a filing to the stock exchanges.

The company expects revenues for the second quarter FY12 at $1,436-1,464 million, a growth of 2-4% over the first quarter.

A combined 350,000 shares have changed hands on the counter in opening deals.