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 .
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.