Wipro slumps 11 percent after projecting weak f'cast

MUMBAI (Reuters) - Shares in Wipro Ltd, India's third-largest software services provider, fell as much as 11.25 percent on Monday after it gave weaker-than-expected quarterly sales forecast on Friday.

Wipro joined No. 2 player Infosys Ltd in delivering tepid revenue outlook, citing a delay in the closure of deals.

Wipro also reported a 16.7 percent rise in quarterly profit to 17.29 billion rupees on Friday.

Shares were down 8.5 percent as of 12:04 p.m.

(Reporting by Abhishek Vishnoi; Editing by Anand Basu)