Wipro falls nearly 5% after disappointing Q4 earnings

On Wednesday, Wipro posted over 20% decline in consolidated profit to Rs 1,800.8 crore for the March quarter, 2017-18.

Shares of Wipro fell by nearly 5% on Thursday, as the company posted over 20% decline in consolidated profit for the March quarter, 2017-18.

After a weak opening on the bourses, the stock further lost 4.56% to Rs 274.10 on the Bombay Stock Exchange (BSE).

On the National Stock Exchange (NSE), shares of the company fell 4.57% to Rs 274.

The stock was the worst hit among bluechips on both Sensex and Nifty during morning trade.

On Wednesday, Wipro posted over 20% decline in consolidated profit to Rs 1,800.8 crore for the March quarter, 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% at Rs 14,304.6 crore in the fourth quarter of last fiscal, compared to Rs 15,045.5 crore in the January-March period of 2016-17.