Wipro profits low by 15 % in the quarter

The topmost information technology company of India, Wipro, suffered losses in profits as the economy slowed down in West and it missed its profit forecasts by 15%.The shares of the company fell by 6.5 % after the quarterly results of company were declared in the market.

The Indian market IT sectors shares fell by 2% after the reports were out. The company said that the uncertainty in the financial sectors of the west affected the profits of Wipro as the company receives a quarter of its revenue from financial sector.