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Good news for Azim Premji! His company earns Rs 19176 crore in just 6 hours after...
Wipro on Friday topped street expectations with a 24.4 per cent year-on-year rise in consolidated net profit for the December quarter at Rs 3,354 crore.
Updated : Jan 20, 2025, 07:20 PM IST
 "Good news for Azim Premji! His company earns Rs 19176 crore in just 6 hours after...")
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The first day of this week brought good news for Azim Premji. The shares of his IT firm Wipro jumped nearly 7 per cent to close at Rs 300.15 in the Indian share market. The surge comes after the firm topped street expectations with a 24.4 per cent year-on-year rise in consolidated net profit for the December quarter.
After the increase in its share price, the company's market valuation went up Rs 19,176.77 crore to Rs 3,14,252.14 crore, as of January 20. This was during the market timing which opens for around six hours from Monday to Friday. According to Forbes, the tech magnate, Premji, now has a real-time net worth of USD 12.1 billion.
The stock ended at Rs 300.15, a jump of 6.49 per cent on the BSE. During the day, it surged 8.33 per cent to Rs 305.35. Shares of the firm climbed 6.57 per cent to Rs 300.50 on the NSE. In traded volume terms, 24.40 lakh shares of the firm were traded at the BSE and 393.80 lakh shares on the NSE during the day.
Wipro on Friday topped street expectations with a 24.4 per cent year-on-year rise in consolidated net profit for the December quarter at Rs 3,354 crore, as the top brass of India's fourth-largest IT services company guided for a "more hopeful and resilient" 2025.
Wipro, which competes with larger rivals such as TCS and Infosys in the IT services market, reported better-than-expected net profit numbers for the December quarter, but called out softness in Asia Pacific, Middle East and Africa (APMEA) and European regions.
(With inputs from PTI)
