Wipro’s net income grows 21 pc YoY in Q2, announces 1:1 bonus share

IANS

IT major Wipro on Thursday reported net income in the July-September period (Q2 FY25) at Rs 3,209 crore — a 6.8 per cent quarterly growth and 21.3 per cent annual growth.

The company also announced a 1:1 bonus share issue.

Gross revenue was Rs 22,300 crore ($2,662.6 million), an increase of 1.5 per cent (on-quarter) and a decrease of 1.0 per cent (YoY).

IT services segment revenue was at $2,660.1 million, an increase of 2.0 per cent (YoY) for the quarter ending September 30.

The Board of Directors recommended the issue of bonus shares to shareholders (including stock dividends to ADS holders) in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to the approval of shareholders.

Special arrangement

The company said in a statement that it expects revenue from the IT services business segment to be in the range of $2,607 million to $2,660 million for the ongoing festive quarter (Q3 FY25).

“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 billion once again, and Capco (acquired by Wipro in 2021) maintained its momentum for another consecutive quarter,” CEO and Managing Director Srini Pallia said. He said that the company will continue to invest in strategic priorities and build a strong AI-powered Wipro. The earnings per share for the quarter was at Rs 6.14, an increase of 6.8 per cent (on-quarter), announced the company.

Chief Financial Officer Aparna Iyer said the 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 $1 billion in operating cash flow,” she mentioned.

(With inputs from IANS)