Wipro Bonus Issue: IT major's board recommend issuance of 1:1 bonus share - Check Details
Meanwhile, the company has reported a 21 per cent rise in the net profit for Q2FY25. Net profit of the company increased from Rs 2646 crore to Rs 3209 crore for the September quarter (YoY).
Wipro Bonus Issue: IT major Wipro Limited has informed exchanges that its board has recommended the issuance of 1:1 bonus shares i.e. issuance of one equity share having a face value of Rs 2 each for every 1 fully paid-up equity share held to the eligible equity shareholders of the company as of the record date.
Meanwhile, the company has reported a 21 per cent rise in the net profit for Q2FY25. Net profit of the company increased from Rs 2646 crore to Rs 3209 crore for the September quarter (YoY).
However, the company's consolidated revenue fell to Rs 22,302 crore for the July-September quarter from Rs 22,543 crore for the same period a year ago.
Net income of the company grew 6.8 per cent (QoQ) and 21.3 per cent YoY. Revenue from IT Services grew 1.3 per cent (QoQ).
Net margin for Wipro expands 35 basis points (QoQ). The company's Large Deal Bookings at USD 1.5 billion, the highest in 10 quarters.
Operating cash flows of the company recorded at Rs 42.7 billion an increase of 10.5 per cent (YoY) which is 132.3 per cent of the net income for the quarter
Srini Pallia, CEO and Managing Director, Wipro said, "Based on strong execution in Q2, we met our expectations for revenue growth, bookings, and margins. We continued to expand our top accounts, large deal bookings surpassed $1 Bn once again, and Capco maintained its momentum for another consecutive quarter."
Srini Pallia further added that the company has grown in three out of the four markets, "We grew in three out of four markets, as well as, in BFSI, Consumer and Technology and Communications sectors. We will continue to invest in our clients, our strategic priorities, and building a strong AI powered Wipro."
Aparna Iyer, Chief Financial Officer, said the company is pleased with its performance in Q2FY25.
She said, "I am pleased with our performance across all parameters including Revenue, Bookings, Operating margin, cash flow and EPS. On the back of operational improvements, we further expanded our margins by 35 basis points and our EPS grew 6.8 per cent QoQ."
She added, "Our operating cash flow continues to be robust at 132.3 per cent of net income in Q2. As a result, cumulatively in the first half of this year we generated nearly $1B in operating cash flow".
With PTI inputs
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: Rule of 72, 843; how much return will you get in 8, 10, 15 years if you invest Rs 1 lakh? See calculations
Valmiki Jayanti 2024 Bank Holiday: Are banks closed in your city on Thursday? Check state-wise full list
SBI Green Deposit 1111-Day Special FD vs SBI 3-year FD: What will general and senior citizens get in maturity on Rs 11 lakh and Rs 21 lakh investments; know here
Top 7 Index Mutual Funds With Highest SIP Returns in 10 Years: No. 1 fund has converted Rs 10,000 monthly SIP into Rs 32.24 lakh; here's what others have done
Power of Compounding: How beginning with Rs 50/day savings can help you create Rs 3.2 crore corpus | Know calculations
05:51 PM IST