Wipro's Q2 Profit Surge and Strategic Moves

IT giant Wipro reported a 21.2% rise in Q2 net profit to Rs 3,208.8 crore, despite a slight dip in revenue. CEO Srini Pallia credits strong execution and market growth, emphasizing investment in AI. The board approved a 1:1 bonus share for eligible shareholders, while shares closed at Rs 528.80.

IT giant Wipro announced a 21.2% increase in its consolidated net profit for the second quarter of FY25, reaching Rs 3,208.8 crore. This marks a significant rise from the Rs 2,646.3 crore reported during the same period last year.

Despite a 0.95% decline in revenue, amounting to Rs 22,301.6 crore for the quarter, Wipro's CEO and MD, Srini Pallia, attributes this success to robust execution. The company has not only achieved its targets in revenue growth, bookings, and margins, but has also expanded its top client accounts and maintained momentum in large deal bookings, surpassing USD 1 billion once again.

The company's strategic focus remains on investing in an AI-powered future, as evidenced by the approval of a 1:1 bonus share for eligible shareholders. Meanwhile, Wipro's shares on the BSE closed at Rs 528.80, reflecting a slight decrease from the previous day.

(With inputs from agencies.)