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.

(With inputs from agencies.)