The proposed bonus share issue will be discussed by Wipro’s board during meetings on October 16–17, 2024, which also happens to be the date of the company’s Q2 FY25 results announcement. The business previously disclosed a 3.8% drop in revenue and a 4.6% gain in net profit for the first quarter.
The titan of the Bengaluru IT industry reported a consolidated net profit of ₹3,003.2 crore for the quarter that ended in June, showing rise over the previous year. However, during that same period, its revenue decreased by 3.8% to ₹21,963.8 crore.
Wipro CEO Srini Pallia stated that the company is confident about outperforming Q2 numbers, with a particular emphasis on increasing bookings and profitable growth. He emphasized the company’s ongoing efforts to implement its ai360 strategy and get its employees ready for a world powered by AI.
Wipro Q2 results
The IT company is also getting ready to present its results for the quarter ending in July through September and to discuss issuing bonus shares during its board meeting on Thursday, October 17. According to the IT company’s official website, the company will reveal its second quarter financial year 2024–25 results on Thursday following market operation hours.
Wipro’s Financials
The prior quarter’s financial results for Wipro this year were inconsistent. The company’s net profit increased by 4.6% year over year to Rs. 3,003.2 crore. Nevertheless, income decreased somewhat, falling 3.8% to Rs. 21,963.8 million. Wipro’s MD and CEO, Srini Pallia, has expressed optimism despite the revenue decline, stating that the business is focused on increasing bookings and is confident in achieving improved Q2 results. At present, the company’s shares are trading at approximately Rs. 537.95 per share, indicating a 2% increase over its previous closing price.
About the Company – Wipro
Technology services and consulting are the areas of expertise for the Indian IT company Wipro. The company, according to the statement, focuses on developing creative solutions that meet the most challenging digital transformation needs of clients. It also makes use of a comprehensive portfolio of capabilities in consulting, design, engineering, and operations.
