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Wipro stock declines as earnings weaken and outlook turns cautious
Wipro shares fell after a Q3 profit decline, as management highlighted weak demand, delayed client decisions, and pricing pressure despite announcing a dividend.
Wipro reported a seven percent year on year drop in December quarter net profit as demand stayed weak across key markets. Net profit was Rs 3,119 crore and the company announced a Rs 6 per share dividend. Shares declined after management issued a cautious outlook, pointing to delayed client decision making, pricing pressure, and near term uncertainty in global technology spending during the current quarter.