Wipro Ltd reported a 21% year-on-year rise in net profit for Q2 FY25, reaching ₹3,209 crore, surpassing expectations. However, consolidated revenue fell 1% to ₹22,302 crore from ₹22,543 crore in the same period last year. The IT major also announced a 1:1 bonus share issue.
Despite the revenue decline, Wipro’s total bookings for the quarter stood at $3.56 billion. The Company saw impressive growth, reaching $1.49 billion, representing a 28.8% increase quarter-on-quarter and a 16.8% rise year-on-year in constant currency.
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CEO Srini Pallia emphasised that strong execution in Q2 allowed Wipro to meet its revenue, bookings, and margin targets. The company expanded its top accounts, with large deal bookings surpassing $1 billion once again, while Capco continued to perform well for another quarter.
Wipro experienced growth in three out of four markets, with particular strength in BFSI, Consumer, Technology, and Communications sectors. Srini stated that the company remains committed to investing in its clients, strategic priorities, and AI-powered capabilities to drive future growth.
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The company’s IT services operating margin for the quarter was 16.8%, showing a quarter-on-quarter increase of 0.3% and a year-on-year rise of 0.7%. Wipro’s shares closed at ₹528.7 on October 17, before the results announcement, with a 0.65% decline, while the Nifty 50 fell 0.9%.
