Wipro shares gain over 1% post as company posts 38.4% rise in net profit for March 2019 quarter

The scrip gained 1.32 percent to close at Rs 284.80 on the BSE. During the day, it rose by 3 percent to Rs 289.65.

Press Trust of India April 18, 2019 19:15:50 IST
Wipro shares gain over 1% post as company posts 38.4% rise in net profit for March 2019 quarter
  • In terms of traded volume, 25.06 lakh shares of RIL were traded on the BSE and over two crore units on the NSE during the day

  • Software major Wipro Tuesday posted 38.4 percent rise in net profit at about Rs 2,494 crore for March 2019 quarter

  • The Bengaluru-based company said its revenue from operations - under IND AS accounting norms - grew 8.9 percent

New Delhi: Shares of Wipro rose over 1 percent Thursday after the company posted 38.4 percent rise in net profit for March 2019 quarter and wooed shareholders with up to Rs 10,500 crore buyback plan.

The scrip gained 1.32 percent to close at Rs 284.80 on the BSE. During the day, it rose by 3 percent to Rs 289.65.

On the NSE, shares closed at Rs 284.55, higher 1.2 percent.

In terms of traded volume, 25.06 lakh shares of the company were traded on the BSE and over two crore units on the NSE during the day.

Wipro shares gain over 1 post as company posts 384 rise in net profit for March 2019 quarter

Representational image. Reuters

Stock markets were closed Wednesday on account of “Mahavir Jayanti”.

Software major Wipro Tuesday posted 38.4 percent rise in net profit at about Rs 2,494 crore for March 2019 quarter and wooed shareholders with up to Rs 10,500 crore buyback plan, even as it projected a potential fall in IT services revenue for the June quarter.

The Bengaluru-based company said its revenue from operations - under IND AS accounting norms - grew 8.9 percent to Rs 15,006.3 crore in the period under review from Rs 13,768.6 crore in the year-ago period. Its net profit stood at Rs 1,800.8 crore in the January-March 2018 period.

IT services segment revenue - which accounts for a bulk of Wipro's topline - rose 1.4 percent sequentially to $2,075.5 million in March quarter, meeting its guidance of 0-2 percent growth.

However, for the June 2019 quarter, Wipro has forecast its IT services revenue to be between $2,046-2,087 million.

Updated Date:

also read

Electronics Mart India IPO to launch on 4 October; Check issue size, price here
Business

Electronics Mart India IPO to launch on 4 October; Check issue size, price here

Electronics Mart India submitted draft papers to SEBI in September last year. As per the DRHP, the retail quota is 35 percent, the QIB quota is 50 percent, and the NII quota is 15 percent.

Sebi cancels registration of Ficus Securities for mismanaging clients' funds
Business

Sebi cancels registration of Ficus Securities for mismanaging clients' funds

Ficus used its clients' securities for settlement of its own pay-in obligations and has also transferred clients' securities to other entities or has pledged those securities to avail funds for itself, Sebi noted

Enable two-factor authentication of your demat account by 30 September; check process here
Business

Enable two-factor authentication of your demat account by 30 September; check process here

To enable two-factor authentication, you need to log in to your demat account and then enable the option in your security settings