IT service provider Wipro has earned a net profit of Rs 3,209 crore in the second quarter of the financial year 2024-25. It has increased by 21.3% on an annual basis. In the same quarter a year ago, the tech company had a profit of Rs 2,646 crore.
In the July-September quarter, the company generated a revenue of Rs 22,302 crore. It has decreased by 1% on an annual basis. In the same quarter a year ago, the company generated a revenue of Rs 22,516 crore. The money that comes to the company by selling services is called revenue.
Wipro will give one bonus share for every share
The IT company has approved the issuance of bonus shares to its shareholders in a ratio of 1:1 along with the quarterly results. The 1:1 ratio means that eligible shareholders will get one additional share of Wipro in exchange for one.
Wipro’s Chief Financial Officer Aparna Iyer said-
I am happy with the growth of every parameter of the company like revenue, booking, operating margin, cash flow, and EPS.
Based on operational improvements, we have increased our margin by 35 basis points and it has increased by 6.8% on a quarterly basis.
Our operational cash flow remains strong at 132.3% of net income in the second quarter.
Wipro’s stock increased by 29% in a year
Wipro’s stock closed at Rs 528.70 today (Thursday, October 17) after a marginal decline of 0.65%. The company’s stock has fallen by 4.20% in a month. Whereas, it has given a return of 18.98% in 6 months and 28.51% in a year. This year i.e. from January 1 till now, it has given a return of 10.80%. The company’s market cap is Rs 2.76 lakh crore.
Wipro’s Managing Director (MD) and Chief Executive Officer (CEO) Thierry Delaporte resigned on 6 April. In place of Thierry Delaporte, the company has appointed Srinivas Palliya as the new CEO and MD of the company.
Thierry Delaporte was in Wipro for the last four years. He wanted to follow his passion outside the workplace, so he resigned from the company. Thierry was brought from French tech company Capgemini to lead Wipro four years ago.
