Wipro shares decline nearly 2% post Dec qtarter earnings

New Delhi: Shares of Wipro today fell by nearly 2 percent after the company posted a 5.8 percent drop in consolidated net profit for the quarter ended December 31, 2016.

The stock declined by 1.61 percent to Rs 465.80 on BSE.

On NSE, it slipped 1.7 percent to Rs 465.60. Stock markets were closed yesterday for public holiday.

Country's third largest software services firm Wipro on Wednesday had posted a 5.8 percent drop in its consolidated net profit to Rs 2,114.8 crore for the quarter ended December 31, 2016.

The company's net profit in the year-ago had stood at Rs 2,246 crore.

The Bengaluru-based firm, however, saw revenues rising 6.2 percent to Rs 13,764.5 crore in the said quarter from Rs 12,951.6 crore in the same period a year ago, according to a filing on the BSE. The result is as per Indian Accounting Standards.

For the quarter ending March 2017, Wipro expects revenues from IT services business to be in the range of USD 1,922-1,941 million.