Wipro's Stock Tumbles Amid Profit Decline and Restructuring Costs

Shares of IT giant Wipro plummeted nearly 10% following a reported 7% downturn in consolidated net profit for Q3 FY26, driven by restructuring charges and labor code costs.

Shares of IT services major Wipro fell dramatically, dropping nearly 10% on Monday. This decline follows the company's announcement of a 7% decrease in consolidated net profit for the third quarter of FY26.

After reporting its earnings post-market hours on Friday, Wipro's stock plummeted, closing at Rs 241.75 on the BSE, reflecting a 9.54% decline, while at the NSE, it decreased sharply by 9.68% to Rs 241.55.

The Bangalore-based IT services behemoth attributed this financial setback to one-off restructuring charges and costs related to newly implemented labour codes, which collectively resulted in a one-time provisional impact of Rs 302.8 crore. Other industry giants like TCS, Infosys, and HCLTech also felt the impact of the labor code adjustments in their Q3 FY26 results.