Wipro share climbs over 3% ahead of Q4 earnings- Business News

By admin On Apr 15, 2021

Stock of Wipro climbed 3.38% to Rs 432.8 against previous close of Rs 418.65 on BSE

Wipro share climbs over 3% ahead of Q4 earnings

Wipro share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

Wipro share rose over 3% today ahead of the IT firm’s Q4 earnings scheduled to be announced today. Stock of Wipro climbed 3.38% to Rs 432.8 against previous close of Rs 418.65 on BSE. The large cap stock has gained after 2 days of consecutive fall. Wipro share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The stock has gained 11.84% since the beginning of this year and risen 131.57% in one year. Market cap of the firm rose to Rs 2.35 lakh crore on BSE.

In Q3 of previous fiscal, the firm reported an about 21 per cent increase in consolidated net profit at Rs 2,968 crore against Rs 2,455.9 crore profit in the year-ago period. Revenue from operations grew nearly 1.3 per cent to Rs 15,670 crore from Rs 15,470.5 crore in the quarter ended December 2019.

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For the December quarter, IT services revenue grew 3.9 per cent sequentially to $2,071 million, exceeding the forecast that had been given by the company in October.

In October, Wipro had said it expects its revenue from IT services business to be in the range of $2,022-2,062 million for the December quarter, a sequential growth of 1.5-3.5 per cent.

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