Latest News | Wipro shares plunge nearly 9 percent after earnings announcement

New Delhi, Jul 22 (PTI) Shares of IT giant Wipro fell nearly 9 percent on Monday morning after the company issued a flat sequential growth forecast.

The stock fell 8.79 percent to Rs 508.25 on the BSE.

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On the NSE, shares fell 8.79 percent to Rs 508.20 apiece.

The stock emerged as the biggest laggard among the NSE Nifty companies.

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Wipro on Friday reported a 4.6 percent year-on-year increase in consolidated net profit for the June quarter to Rs 3,003.2 crore.

However, the Bengaluru-headquartered company’s revenue fell 3.8 per cent to Rs 21,963.8 crore in the first quarter of FY25.

The company expects IT services segment revenue to be between $2.6 billion and $2.652 million for the September quarter.

“This represents a sequential forecast of (-) 1.0 percent to +1.0 percent in constant currency,” the report said.

(This is an unedited and auto-generated story from the syndicated newsfeed. It is possible that LatestLY staff has not altered or edited the content.)