Wipro Shares Rise Over 3% After Earnings Announcement

Wipro shares rose more than 3 per cent on Thursday, a day after the IT major reported its earnings for the April-June period. Wipro, the country's third largest IT services exporter, reported a net profit of Rs 2,387.6 crore for the quarter ended June 30 after market hours on Wednesday. The net profit was down 3.86 per cent on a sequential basis, but was higher than analysts' estimates. In a poll conducted by news agency Reuters, analysts had on an average expected a net profit of Rs. 2,324 crore in the first quarter of the current financial year.

On the National Stock Exchange (NSE), Wipro shares opened 0.54 per cent higher and rose to as much as Rs 268.90 apiece in morning deals, marking an increase of 3.58 per cent. On the Bombay Stock Exchange (BSE), the Wipro stock climbed as much as 3.52 per cent to touch the Rs 268.85 mark at the day's strongest point. 

At 11:03, Wipro shares traded 3.22 per cent higher at Rs 268.05 apiece on the BSE, outperforming the benchmark Sensex index which was down 0.12 per cent.