Wipro Share Price This Week: Marginal Gains Amidst Quarterly Results

In a week marked by cautious market movements, Wipro, a prominent player in the IT services sector, experienced a marginal uptick in its share price. The surge followed the release of the company’s financial results for the December quarter (Q3 FY24) on January 12.

Wipro reported a 1.8 percent increase in its consolidated profit after tax (PAT) on a quarter-on-quarter (QoQ) basis, reaching Rs 2,694 crore. This figure aligned with Zee Business Research estimates of Rs 2,600 crore. Despite the positive PAT trend, the company witnessed a 1.37 percent sequential decline in its consolidated revenue from operations.

In addition to the financial outcomes, Wipro declared an interim dividend of Re 1 per share, providing a positive signal to its investors. The company’s attrition rate continued to moderate, hitting a 10-quarter low of 12.3 percent during the reviewed period, showcasing stability in its workforce.

While the gains in share price were modest, investors are closely monitoring Wipro’s strategic moves and financial performance as it navigates the dynamic landscape of the IT services industry. The company’s Q3 FY24 results, though a mixed bag, have contributed to the ongoing narrative of Wipro’s position in the market, adding nuances to the broader market trends