NEW DELHI: The shares of Wipro were trading at Rs 378.95 at 12.56 pm in the afternoon, down 7.11 per cent from the previous close. The IT major reported a decline of 9.27 per cent in its consolidated profit after tax at Rs 2,659 crore for the quarter ended September 2022. The PAT of the firm was Rs 2,930 crore in the year-ago period.
The country’s largest IT major was trading in the negative on Thursday morning at Rs 3,082.85, a dip of 0.60 per cent, after the earnings missed the market estimates. Another IT major, Infosys, will also declare its earnings for the September quarter later today.
However, during the quarterly earnings, Wipro reported that its consolidated revenue grew 14.6% to Rs 22,540 crore as compared to Rs 19,667 crore in the same period a year ago. Its operating margin for the quarter under review came in at 15.1 per cent, an increase of 16 BPS quarter-on-quarter (QoQ), the company said.
“The solid growth in our bookings, large deal signings and revenues underscore our improved market competitiveness and enhanced value proposition,” Thierry Delaporte, CEO and managing director, Wipro, said.
On Thursday, BSE IT was down 0.71 per cent to 27,828.01 on the BSE stock exchange. Volatility in stock markets is still prevalent as markets again declined on Thursday morning. The decline was largely due to elevated inflation levels in the country.
India’s retail inflation surged to 7.41 per cent in September, remaining above the Reserve Bank of India’s mandated range of 2-6 per cent for the third straight quarter – nine straight months. In August, the retail inflation was 7 per cent. (ANI)