After Wipro reported its Q1 earnings on Monday, shares of the major IT company fell 8% in early trading. In Q1, Wipro’s consolidated net profit increased by 5.21 percent year over year (YoY) to Rs 3,036.60 crore from Rs 2,886 crore in the same quarter the previous year. Revenue declined 3.79 percent to Rs 21,963.80 crore in the June 2024 quarter, compared with Rs 22,831 crore in the same quarter the previous year. Wipro’s IT service revenue totalled Rs 21,896 crore.
The Wipro stock decreased 7.87% to Rs 513.35 on the BSE during the current session. On the BSE, Wipro’s market cap decreased to Rs 2.69 lakh crore. On the BSE, 5.82 lakh shares of the company changed hands, leading to a turnover of Rs 30.12 crore.
Technically speaking, Wipro’s relative strength index (RSI) is 67.3, indicating that the stock is neither overbought nor oversold.
Wipro shares were down 8.52% at ₹509.75 on the NSE as of 11:23 AM.
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