Wipro Set To Consider Bonus Share Issue Alongside Q2 FY25 Results Announcement

Bengaluru-based IT player Wipro has saids that its board of directors will discuss the issuance of bonus shares at an upcoming meeting scheduled for 16-17 October 2024. 

The meeting will also coincide with the company's announcement of its second-quarter results for the fiscal year 2025, set for 17 October. The company revealed the proposal for bonus shares in a regulatory filing, noting that it will follow all relevant provisions under the Companies Act, 2013, and Sebi's regulations on capital and disclosure requirements.

The move comes as Wipro continues to focus on enhancing shareholder value. In the previous quarter, the company reported a 4.6 per cent year-on-year increase in its consolidated net profit, reaching Rs 3,003.2 crore. However, its revenue saw a slight decline of 3.8 per cent, totaling Rs 21,963.8 crore for the period ending in June 2024. Despite the revenue dip, Wipro CEO and Managing Director Srini Pallia had expressed optimism for the company's future performance, stating that Wipro is confident about improving its bookings and delivering profitable growth in the second quarter.

Pallia had also mentioned the company's ongoing efforts to advance its AI-driven strategy, ai360, and prepare its workforce for an "AI-first" future, signaling a continued focus on innovation and technological leadership.