Wipro Stock Drops After Profit Decline and Soft Future Guidance

New Delhi, Apr 17 (BNP): Shares of IT major Wipro slipped in early trade on Friday, falling nearly 4% after the company reported a marginal decline in quarterly earnings and issued a subdued outlook.

The stock was under pressure following the company’s March quarter results for FY26, where net profit stood at ₹3,501.8 crore, marking a 1.89% drop compared to the same period last year. Investors also reacted negatively to the firm’s muted guidance for the coming quarters.

In morning trade, the stock declined 3.61% to ₹202.60 on the BSE, while on the NSE it fell 3.69% to ₹202.

Market participants said the reaction reflected concerns over near-term demand visibility in the IT sector, with investors remaining cautious amid global macroeconomic uncertainty and selective client spending.

Despite the fall, analysts note that broader sector trends will continue to depend on deal pipeline strength and discretionary IT spending recovery in key markets.