Wipro Ltd, the IT major, reported second-quarter consolidated net profit up 21% year-on-year to ₹3,208.8 crore compared to ₹2,646.3 crore in the year-ago period.
The company’s revenue for the quarter ended September 30 declined 1% to Rs 22,301.6 crore compared to Rs 22,515.9 crore in the same period last year. Revenues in the IT services segment were down 2.0% year-over-year.
Wipro’s board of directors on Thursday recommended the issue of bonus shares to shareholders (including dividend per share to ADS holders) in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to approval by the shareholders.
The company said voluntary attrition was 14.5% on a trailing 12-month basis.
At the end of the quarter, the company had a staff of 2,33,889.
Regarding the outlook for the quarter ending December 31, 2024, the company said: “We expect revenue from our IT Services business segment to be in the range of $2,607 million to $2,660 million. This means sequential guidance of (-) 2.0% to 0.0% in constant currency.”
Srini Palia, CEO and Managing Director, Wipro Ltd. said in a statement: “Based on the strong performance in the second quarter, we met our expectations for revenue, bookings and margin growth. We continued to grow our flagship accounts, large deal bookings once again exceeded $1 billion and Capco maintained its momentum for another consecutive quarter.”
“We grew in three out of four markets as well as in the BFSI, Consumer and Technology and Communications sectors. We will continue to invest in our customers, our strategic priorities and building a strong AI-powered Wipro,” he added.
Aparna Iyer, Chief Financial Officer, Wipro Ltd 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 by 6.8% QoQ. Our operating cash flow remains stable at 132.3% of net income in Q2.” she added.
Published – October 17, 2024, 7:54 PM IST
