Wipro Surges with 24.4% Profit Growth Despite Regional Softness

Wipro shares increased by over 8% as the company reported a 24.4% annual rise in net profit for the December quarter, surpassing expectations. The IT giant's revenue showed marginal growth, though concerns persisted over regional softness in APMEA and Europe. Wipro remains optimistic for 2025.

On Monday, shares of Wipro surged over 8%, boosted by the company's impressive 24.4% growth in consolidated net profit for the December quarter, exceeding market expectations. The stock rose to Rs 305.35 on the BSE and Rs 305.40 on the NSE.

During the recent earnings call, CEO Srinivas Pallia expressed cautious optimism, highlighting a slow return in discretionary spending among clients. Despite competition from TCS and Infosys, Wipro's better-than-expected profits have instilled hope for a resilient 2025.

The tech major, however, noted some softness in regions like APMEA and Europe, while reporting a slight 0.5% increase in revenue to about Rs 22,319 crore. Banking and financial services played a key role in this growth.

(With inputs from agencies.)