The stock price of IT firm Wipro surged nearly 4 per cent in the Friday trading session after the frim reported a 21 per cent rise in the net profit for Q2FY25 from Rs 2,646 crore to Rs 3,209 crore for the September quarter on year-on-year (YoY) basis.
Wipro stock traded as the top gainer in the ten-stocks Nifty IT index. Nifty IT index fell 1.5 per cent, while Wipro stock traded with 3.5 per cent gain at Rs 547 in the morning session on the National Stock Exchange (NSE).
However, the company's consolidated revenue fell to Rs 22,302 crore for the July-September quarter from Rs 22,543 crore for the same period a year ago.
Net income of the company grew 6.8 per cent quarter-on-quarter (QoQ) and 21.3 per cent YoY, while revenue from IT Services grew 1.3 per cent (QoQ).
Net margin for Wipro expanded 35 basis points QoQ. The company's large deal bookings stood at USD 1.5 billion, the highest in 10 quarters.
Operating cash flows of the company recorded at Rs 42.7 billion an increase of 10.5 per cent YoY which is 132.3 per cent of the net income for the quarter.
The board of directors also approved bonus shares to shareholders in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to the approval of shareholders.
“We grew in three out of four markets, as well as, in BFSI, Consumer and Technology and Communications sectors. We will continue to invest in our clients, our strategic priorities and building a strong AI powered Wipro,” said Srini Pallia, CEO and Managing Director, Wipro. (ANI)
