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Wipro Announces Rs. 9500 Crore Share Buyback; Net Profits Dips 3.4% YoY
IT major Wipro on October 13, 2020 today announced share buyback worth Rs. 9500 crore. The company will buy back 23.75 crore shares at Rs. 400 per equity share, the company said in a press release. Wipro's buyback price was at a premium of 6.45 per cent to its closing price of Rs. 375.75.
The company's gross revenue for the quarter ended September rose 1.4 percent sequentially to Rs. 15100 crore and revenue also surged 3.7 percent to $1,992.4 million. Its net profit however declined 3.4 per cent annually to Rs.2,470 crore.
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