MUMBAI: Shares of Wipro Ltd fell 3% in early deals on Thursday following the company's weak earnings performance for January-March and as it stayed away from providing a guidance citing uncertainty due to the covid-19 pandemic.
At 9.20am, the stock traded 2.6% lower at ₹181.65 on the BSE, having hit a low of ₹175 earlier today. Shares of other information technology companies also declined in tandem, with Tata Consultancy Services, Infosys Ltd, Mindtree Ltd down 1.7-3%.
The BSE IT index was down 1.8%. On Wednesday after market hours, Wipro reported a 5.3% sequential decline in its net profit to ₹2,326 crore for the fourth quarter ended March, primarily due to lower operating margin and higher taxes.