Wipro Shares Plunge as Quarterly Profit Dips Amid Restructuring
Shares of Wipro fell by 8% after the company reported a 7% decline in net profit for Q3 FY26. The decline was attributed to restructuring charges and new labor code implementations causing a one-time impact. The company's market valuation dipped by over Rs 22,000 crore.
- Country:
- India
Shares of IT giant Wipro plummeted 8% following the announcement of a 7% drop in consolidated net profit for the third quarter of FY26.
The stock closed at Rs 246 on the BSE and suffered further losses of 9.54% within the day, marking a low of Rs 241.75.
One-off restructuring charges and the implementation of new labor codes negatively impacted profitability, reducing the company's market valuation by Rs 22,282.64 crore. Wipro is not alone, as peers TCS, Infosys, and HCLTech have also faced similar challenges this quarter.
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