Wipro's Earnings Rise Amid Revenue Challenges

Wipro reported a 21.2% increase in consolidated net profit for Q2 FY25, despite weak revenue guidance for the next quarter. The company continues to focus on strategic priorities, AI opportunities, and merit-based employee initiatives. A bonus share issuance is proposed, pending shareholder approval.

Wipro, a leading IT firm, announced a 21.2% year-on-year increase in consolidated net profit, reaching Rs 3,208.8 crore in Q2 FY25, despite experiencing weak revenue guidance for the upcoming period.

The company revealed a decline in revenue from Rs 22,515.9 crore last year to Rs 22,301.6 crore this quarter. CEO Srini Pallia attributed this quarter's success to strong execution and growth in key markets, surpassing USD 1 billion in large deal bookings once again.

Wipro faces challenges in the October-December quarter due to seasonal furloughs and fewer working days, forecasting a potential decline in revenue. However, the company remains optimistic, emphasizing an AI mindset among its employees and offering a 1:1 bonus share issuance, subject to shareholder approval.

(With inputs from agencies.)