Wipro chairman Azim Premji said on Friday 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 under performed in quarter three relative to our competitors and as relative to our potential as a company," he told reporters in Bengaluru on Friday.
"What we are trying to do is trying to improve perfomance 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 on Friday reported a 9.60 per cent jump in consolidated net profit at Rs 1,318.8 crore (Rs 13.18 billion) for the third quarter against Rs 1,203.2 crore (Rs 12.03 billion)
in the same quarter last year.
Shares of Wipro fell by 4.20 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 trading at 19,013.69, down 32.85 points or 0.17 per cent at 0924 hours.
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Wipro chairman Azim Premji said on Friday that the company underperformed in the October-December quarter relative to competitors and its own potential.