Wipro shares surge nearly 6 pc post Q2 earnings

New Delhi: Wipro's stock rose by about 6 pc on Friday following a 21.2 pc increase in consolidated net profit for Q2 FY25 compared to the previous year. The stock of the company increased by 5.52 pc to reach Rs 558 on the BSE. At Rs 558.40, it rose by 5.60 per cent on the NSE. Wipro reported a 21.2 pc increase in consolidated net profit to Rs 3,208.8 crore for Q2 FY25 due to higher operating profit, although it provided a cautious revenue outlook for the next quarter. It had recorded a profit of Rs 2,646.3 crore during the same period last year.

Wipro Reports Slight Revenue Dip in Q2, Maintains Optimism Despite Seasonal Challenges Ahead
In the last quarter, the operational revenue was Rs 22,301.6 crore, slightly decreased by 0.95 per cent from Rs 22,515.9 crore in Q2 FY24. Wipro CEO and MD Srini Pallia stated that strong execution drove Q2, allowing the Bengaluru-based company to achieve its revenue growth, bookings, and margins expectations. We kept growing our key clients, large deal bookings exceeded USD 1 billion once more, and Capco sustained its momentum for another quarter in a row. He mentioned that we saw growth in three out of four markets, as well as in BFSI, consumer, technology, and communications sectors.

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Pallia mentioned during the company's earnings press conference that the revenue for the October-December quarter is anticipated to be impacted by "seasonal furloughs and fewer working days." Therefore, we are projecting a continuous revenue increase ranging from -2 pc to 0 pc  in constant currency. He stated that despite a decrease in revenue in Q3, we are still confident in our ability to keep our margin within a small range. The company had previously provided a revenue forecast ranging from - 1 pc to +1 pc for Q2 FY25. "The future prospects of our company are robust, and we are ready to navigate through the current economic uncertainties."

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