Wipro Staff To Get Shares Worth Over 
1Crore
Post the announcement, Wipro’s scrip was trading at
554.55, down 4.19 per cent on the BSE. Shares of IT major Wipro Ltd today fell by 4.5 per cent after the company’s March quarter earnings failed to enthuse investors.
The stock made a weak opening and further lost 4.51 per cent to 552.65 at the BSE. On the NSE, it was down 4.5 per cent to 552.10.
The stock was the top loser among the bluechip Sensex and Nifty scrips. “While Q3 FY’15 had seen strong performance, Q4 FY’15 disappointed owing to weakness in the energy vertical,” Edelweiss Financial Services said in a report.
Wipro Ltd had elevated its Chairman Azim Premji’s son Rishad to thecompany Board in an apparent succession planning on a day it reported 2.1 per cent increase in March quarter profits.
The country’s third-largest software services firm posted a net profit of 2,286.5 crore in January-March 2015 quarter, 2.1 per cent higher than 2,239.1 crore a year ago.
Revenues from IT services business increased six per cent year-on-year to 11,240 crore (up 3.2 per cent to $1.77 billion) in the reported quarter. However, the company has forecast its IT services revenues for the April-June 2015 period to be in the range of $1.76 billion to $1.79 billion. This is lower by 0.5 per cent to a growth of one per cent from the earnings of January-March 2015 quarter.
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