Wipro bonus issue: IT major’s board approves 1:1 issue of free shares; Record date to be fixed soon

Wipro bonus issue: Wipro announced its July-September quarter results for fiscal 2024-25 (Q2FY25) on Thursday, October 17 and approved a bonus issue of shares in the ratio 1:1. The record date for the bonus issue will be announced later.

Wipro's IT services revenue growth seen in the range of -2% to 0 per cent. The IT services revenue seen in the range of $2,607 -2,660 million. The revenue from operations for the reporting quarter was ₹22,301.6 crore, a 0.95 per cent decline from ₹22,515.9 crore in Q2 FY24.

Wipro CEO and MD Srini Pallia said the Q2 was driven by strong execution, which enabled the Bengaluru-based firm to meet its expectations for revenue growth, bookings, and margins.

"We continued to expand our top accounts, large deal bookings surpassed USD 1 billion once again, and Capco maintained its momentum for another consecutive quarter. We grew in three out of four markets, as well as, in BFSI, consumer, technology and communications sectors," he said.

Pallia said the company will continue to invest towards building a "strong AI-powered Wipro". Wipro on Thursday posted a 21.2 per cent year-on-year rise in its consolidated net profit to ₹3,208.8 crore for Q2 FY25 on higher operating profit but gave weak revenue guidance for the next quarter.

It had reported a profit of ₹2,646.3 crore in the year-ago period.

The revenue from operations for the reporting quarter was ₹22,301.6 crore, a 0.95 per cent decline from ₹22,515.9 crore in Q2 FY24.

Wipro CEO and MD Srini Pallia said the Q2 was driven by strong execution, which enabled the Bengaluru-based firm to meet its expectations for revenue growth, bookings, and margins.