Wipro Q2 PAT down 3.4% YoY at Rs 2,465.7 cr; announces Rs 9,500 cr buyback

Wipro on Tuesday reported a 3.4 per cent year-on-year (YoY) fall in its consolidated net profit at Rs 2,465.7 crore for the quarter ended September 2020 (Q2FY21). The company had posted a profit of Rs 2,552.7 crore in the year-ago period. On a sequential basis, numbers grew 3.15 per cent. 

Revenue for the company came in at Rs 15,114.5 crore, down 0.07 per cent on a YoY basis. Further, Wipro also announced a buyback of Rs 9,500 crore at Rs 400 per share. The buyback price is over 6 per cent higher than Tuesday's closing price on the exchanges.