Wipro declines most in three months; down 4% in morning trade

Bombay Stock Exchange (BSE) headquarters in Mumbai, Maharashtra, India. Image Source: IANS

Wipro Ltd fell nearly 4% in morning trade on Monday as the company cut its revenue guidance last week.

Market data show that the 4% intraday fall is most since July 20, 2016 and was the worst performer on BSE Sensex and NSE Nifty.

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The stock of the company was trading low at 3.83% to Rs 478.10 per share at 09:45 am.

The company on Friday had announced its second quarter ended on September 30, 2016 results where it said that its third quarter (Q3) revenues may fall to $1.90-$1.96 billion.

The company's consolidated net profit for the second quarter (Q2) ended on September 30 declined by 7.61% to Rs 2070.4 crore as against Rs 2,241 crore in the corresponding quarter of last year.

Wipro's total income during the quarter rose up 10.6% to Rs 13,896.8 crore as compared to Rs 12,566.8 crore in the same quarter of previous year, it said.

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