Wipro shares drop 5% post earnings

New Delhi: Shares of IT services firm Wipro on Friday dropped 5 per cent after the company’s September quarter earnings failed to cheer investors.

The stock declined 5.08 per cent to settle at Rs 240.85 apiece on the BSE. During the day, it tanked 5.77 per cent to Rs 239.10. On the NSE, the stock dropped 5.08 per cent to Rs 240.90.

The company’s market valuation eroded by Rs 13,486.09 crore to Rs 2,52,502.73 crore. Wipro on Thursday reported a marginal increase in consolidated net profit to Rs 3,246.2 crore in the July-September quarter.