Wipro shares fall 1.68 per cent on muted revenue growth guidance

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Updated: October 23, 2015 5:07:24 PM

Wipro share price declined 1.57 per cent in morning trade on Friday after the company for the third quarter of the fiscal gave a muted revenue growth guidance in the range of 0.5-2.5% in dollar terms.

Wipro sharesWipro share price declined 1.57 per cent in morning trade on Friday after the company for the third quarter of the fiscal gave a muted revenue growth guidance in the range of 0.5-2.5% in dollar terms. (Photo: PTI)

Wipro share price declined 1.57 per cent in morning trade on Friday after the company for the third quarter of the fiscal gave a muted revenue growth guidance in the range of 0.5-2.5% in dollar terms. The IT major attributed this conservative guidance to larger number of holidays during the third quarter and the continued weakness in the energy vertical.

At 11.49 am, share price of Wipro was down 1.57 per cent at Rs 568.85. Sensex was trading 221.25 points up at Rs 27,508.91 during the same time. Later, the share price of Wipro closed 1.68 per cent down at Rs 568.20.

Wipro reported a 7.2 per cent growth in consolidated net profit at Rs 2,235.4 crore for the second quarter ended September 30, 2015. Net sales rose by 6.3% year-on-year.

Wipro’s IT services revenue increased by 4 per cent on a sequential basis to touch Rs 12,042.8 crore at the end of the second quarter. The IT ervices revenues in dollar terms was $1831.9 million, showing a sequential growth 2.1 per cent and it was line with its guidance of 1.5-3.5 per cent.

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