Thursday 17 / October / 2024
New Delhi: IT major Wipro Limited has reported a 21 per cent rise in the net profit for Q2FY25. Net profit of the company increased from Rs 2646 crore to Rs 3209 crore for the September quarter (YoY).
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 (QoQ) and 21.3 per cent YoY. Revenue from IT Services grew 1.3 per cent (QoQ).
Net margin for Wipro expands 35 basis points (QoQ). The company's Large Deal Bookings 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 have 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.
Srini Pallia, CEO and Managing Director, Wipro said, "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 Bn once again, and Capco maintained its momentum for another consecutive quarter."
Srini Pallia further added that the company has grown in three out of the four markets, "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."
Aparna Iyer, Chief Financial Officer, said the company is pleased with its performance in Q2FY25.
She 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 6.8 per cent QoQ."
She added, "Our 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 $1B in operating cash flow".
