The stock market is trading in the red today ahead of the budget (Budget 2024) to be presented tomorrow. Today, the shares of IT sector giant Wipro are trading with a decline. Wipro released the results of the first quarter of the current financial year last Friday.

The impact of the quarterly results released by the company was seen on the company's shares today. The company's shares have been trading with a decline since early morning today.

Wipro Share Update

Wipro's shares fell by 9 percent today. This decline has come after mixed quarterly results. On the Bombay Stock Exchange (BSE), the company's stock was trading 8.79 percent down at Rs 508.25 per share. At the same time, on the National Stock Exchange (NSE), the company's stock fell 8.79 percent to reach 508.20 per share.

At the time of writing the news, Wipro shares were trading at Rs 512.35 per share, down by Rs 44.85 or 8.05 per cent.

The company's shares are the top loser in the NSE Nifty firm. According to the BSE website, after the fall in the shares, Wipro's M-Cap is Rs 2,67,617.23 crore.

Wipro Q1 Result (Wipro Q1 Result)

Wipro had said in its quarterly results that the company's net profit increased by 4.6 percent. The company has earned a total profit of Rs 3,003.2 crore in the June quarter.

At the same time, the company's revenue also fell by 3.8 percent to Rs 21,963.8 crore in the first quarter of the current financial year. The company said that it expects revenue from the IT service business segment to be between US $ 2,600 million and US $ 2,652 million in the September quarter.