Shares of Wipro shot up by more than 3 per cent in early trade on the bourses today after the software exporter reported a consolidated net profit of Rs 1,300.9 crore for the September quarter.
Reacting to the numbers, shares of the company opened on a bullish note and surged by 3.21 per cent to touch an early high of Rs 384.80, on BSE.
Similar movement was witnessed on the National Stock Exchange as well, where the stock — after opening at Rs 375 — rallied by 2.92 per cent to see a high of Rs 385.
However, some of the initial gains were pared in later trade and the stock was being quoted 2.31 per cent higher at Rs 381.40 on BSE and up by 2.23 per cent at Rs 382.40 on NSE at 10.24 a.m.
Wipro today reported a growth of 1.24 per cent in consolidated net profit to Rs 1,300.9 crore for the quarter ended September 30, 2011. In the corresponding period last year, the company had posted a net profit of Rs 1,284.9 crore.
Net income from sales during the reporting quarter stood at Rs 9,094.5 crore, as against Rs 7,730.5 crore in Q2, FY’11, translating into a 17.64 per cent increase.