Wipro surges 15% as Q1 operational performance beats Street estimate

The company's IT services EBIT margins came in at 19 per cent in Q1FY21, led by higher utilisation, cost efficiency and rupee depreciation

Shares of Wipro surged 15 per cent to Rs 258.80 on the BSE on Wednesday after the information technology (IT) services major reported a better-than-expected performance in June quarter of FY21 (Q1FY21), as its profitability improved despite contraction in revenues on a sequential basis.

The stock trades in the futures & option (F&O) segment, which has no circuit limits. Till 09:47 am, a combined 31.4 million equity shares had changed hands on the NSE and BSE.

The company’s IT services EBIT (earnings before interest and taxes) margins came at 19 per cent in Q1FY21, led by higher utilisation,