Wipro Posts Better-Than-Expected Quarterly Net Profit
Advertisement
Shares of Wipro Ltd gained as much as 7.8 percent on Monday after the India's third-largest IT services exporter on Friday reported better-than-expected growth in December-quarter net profit.
© Thomson Reuters 2015
Developing.
There were widespread expectations that Wipro would post weak earnings after rival Tata Consultancy Services' December-quarter revenue from its energy vertical fell 2.3 percent in dollar terms.
Attractive valuations also helped Wipro shares, investors said. Wipro trades at 14.5 times of one-year forward earnings compared with 17.7 times of rivals, as per Thomson Reuters Eikon data.
Wipro was up 7 percent at 593.85 rupees as of 10:23 a.m.© Thomson Reuters 2015
Developing.
For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.
Further reading:
Wipro
Advertisement