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HindustanTimes Fri,18 Apr 2014

Wipro settles 8% down

HT Correspondent, Hindustan Times  Mumbai, April 22, 2013
First Published: 09:40 IST(22/4/2013) | Last Updated: 21:11 IST(22/4/2013)

Shares of Wipro, India's third-largest software services provider, fell 8% to Rs. 339 on Monday on the back of lower-than-expected results and weak guidance for the first quarter of 2013-14 .

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Wipro had on Friday reported 16.7% increase in net profit to Rs. 1,728.7 crore for the fourth quarter ended March 31, 2013.

After making a weak opening, shares of the company further lost 11% to Rs. 328 intra-day on the Bombay Stock Exchange (BSE) but managed to close the day at Rs. 339.

Wipro joined Infosys in delivering tepid revenue outlook, citing a delay in the closure of deals.

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