New Delhi, April 17 -- Wipro share price slumped almost 4% on Friday, April 17, following the IT giant's reported consolidated net profit of Rs.3,501.8 crore for the March quarter of FY26, which reflects a decline of 1.89% compared to Rs.3,569.6 crore from the previous year.

The profit decrease occurs amid a tough macroeconomic climate, which Wipro's CEO and MD, Srini Pallia, referred to during the earnings call as the "new normal," characterized by geopolitical and policy challenges; however, he pointed out that overall IT spending has remained resilient.

Wipro's board has also sanctioned a massive Rs.15,000 crore share buyback program, aiming to repurchase more than 5% of its equity, or up to 60 crore shares, from shareholders at a pr...