Wipro Reports Strong Q2 FY25 Earnings with 21.3% Annual Net Income Growth
Wipro, the IT major, reported a net income of ₹3,209 crore for the July-September period (Q2 FY25), reflecting a quarterly growth of 6.8% and an annual growth of 21.3%. The company also announced a 1:1 bonus share issue.
In terms of revenue, Wipro's gross revenue stood at ₹22,300 crore (approximately $2,662.6 million), marking a quarter-on-quarter increase of 1.5% but a year-on-year decline of 1.0%. For the IT services segment, revenue reached $2,660.1 million, representing a year-on-year growth of 2.0% for the quarter ending September 30.
The Board of Directors recommended the issue of bonus shares to shareholders (including stock dividends to ADS holders) in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to the approval of shareholders.
The company said in a statement that it expects revenue from the IT services business segment to be in the range of $2,607 million to $2,660 million for the ongoing festive quarter (Q3 FY25).
"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 (acquired by Wipro in 2021) maintained its momentum for another consecutive quarter", CEO and Managing Director Srini Pallia said. He said that the company will continue to invest in strategic priorities and build a strong AI-powered Wipro. The earnings per share for the quarter was at Rs 6.14, an increase of 6.8 percent (on-quarter), announced the company.
Chief Financial Officer Aparna Iyer said the operating cash flow continues to be robust at 132.3 percent of net income in Q2. "As a result, cumulatively in the first half of this year, we generated nearly $1 billion in operating cash flow", she added.