Wipro gains as board set record date for bonus

Wipro rose 1.07% to Rs 563.15 after the company set 3 December 2024, as the record date for its proposed 1:1 bonus share issue.

In October, the IT major's board recommended issuing one bonus equity share for every equity share held (1:1). Additionally, they recommended a bonus issue of 1 American Depositary Share (ADS) for every 1 ADS held, as on the record date.

Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs.

The IT giants consolidated net profit grew 6.85% to Rs 3,208.8 crore on 1.54% rise in revenue from operations to Rs 22,301.6 crore in Q2 FY25 over Q1 FY25. On year on year (YoY) basis, the IT firms net profit grew 21.26% while revenue fell 0.95% in Q2 FY25.

 

For the quarter ending 31 December 2024, Wipro expects revenue from its IT Services business segment to be in the range of $2,607 million to $2,660 million. This translates to sequential guidance of -2% to 0% in constant currency terms.

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