Wipro Q2 FY25 results: Profit jumps 21% to Rs 3,209 crore; revenue slips

IT firm Wipro Ltd on Thursday recorded a 21.26 per cent surge, year-on-year (YoY), in its September 2024 quarter's consolidated net profit. During Q2 FY25, profit came at Rs 3,208.8 crore as against Rs 2,646.3 crore in the year-ago period.

However, the company's revenue from operations fell 0.95 per cent to Rs 22,301.6 crore from Rs 22,515.9 crore in the corresponding period last fiscal.

Wipro's Board has recommended issue of bonus shares to shareholders (including stock dividend to ADS holders) in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to approval of shareholders. The record date for reckoning eligible shareholders entitled to receive bonus shares will be communicated later.

"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 billion once again, and Capco maintained its momentum for another consecutive quarter. We grew in three out of four markets, as well as, in BFSI, Consumer and Technology and Communications sectors," said Srini Pallia, CEO and Managing Director at Wipro.

The IT firm's voluntary attrition was at 14.5 per cent on a trailing 12-month basis in Q2 FY25.

"On the back of operational improvements, we further expanded our margins by 35 basis points and our EPS grew 6.8 per cent QoQ. Our operating cash flow continues to be robust at 132.3% of net income in Q2," said Wipro CFO Aparna Iyer.

Wipro, while sharing outlook for the December 2024 quarter, said it expect revenue from our IT Services business segment to be in the range of $2,607 million to $2,660 million. "This translates to sequential guidance of (-) 2.0 per cent to 0.0 per cent in constant currency terms," it added.

The quarterly results were out shortly after today's market closing. Wipro shares settled 0.65 per cent lower at Rs 528.80.