 "Wipro dips 8% post Q1 results")
Wipro has dipped 8.2% to Rs 528 on the National Stock Exchange (NSE) after posting a profit of Rs 2,118 crore, largely in line with expectations for the June 2014 quarter (Q1). The company had reported a profit of Rs 2,239 crore in March quarter. The revenues declined 4% on a quarter-on-quarter basis to Rs 11,246 crore.
In dollar terms, IT services revenue was $1,740 million, a sequential increase of 1.2%, Wipro said in a statement.
The operating margin of IT services declined to 22.8%, from 24.5% in the previous quarter, impacted due to wage hikes.
For the quarter ending September 30, 2014 (Q2 of FY15), the company said it expects IT services revenues to be in the range of $1,770 million to $1,810 million, implying a growth of 1.7% to 4%, on a sequential basis.
At 0935 hours, the stock was down 6% at Rs 542, after hitting high of Rs 555 on NSE. A combined 2.37 million shares changed hands on the counter so far on NSE and BSE.
In dollar terms, IT services revenue was $1,740 million, a sequential increase of 1.2%, Wipro said in a statement.
The operating margin of IT services declined to 22.8%, from 24.5% in the previous quarter, impacted due to wage hikes.
For the quarter ending September 30, 2014 (Q2 of FY15), the company said it expects IT services revenues to be in the range of $1,770 million to $1,810 million, implying a growth of 1.7% to 4%, on a sequential basis.
At 0935 hours, the stock was down 6% at Rs 542, after hitting high of Rs 555 on NSE. A combined 2.37 million shares changed hands on the counter so far on NSE and BSE.