Wipro Chairman Azim Premji on Friday said that the company underperformed in the October-December quarter relative to competitors and its own potential.
"I don't think we should try making excuses about our performance. We have underperformed in quarter three relative to our competitors and as relative to our potential as a company," he told reporters here today.
"What we are trying to do is trying to improve performance in quarter four and also significantly improving performance going forward," he added.
Wipro has not been able to take similar strides in the health and financial sector as the competition has done, Premji said.
The IT major today reported a 9.60 per cent jump in consolidated net profit at Rs 1,318.8 crore for the third quarter against Rs 1,203.2 crore in the same quarter last year.
Shares of Wipro fell by 4.5 per cent to an early low of Rs 457.90 on the Bombay Stock Exchange after the company reported lower-than-expected numbers for the quarter under review.
Meanwhile, the BSE 30-share barometer Sensex was slightly lower in late trade on Friday.
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