Wipro Stocks Rise Nearly 4%

New Delhi: Shares of IT company Wipro ended nearly 4 per cent higher on Friday after the firm posted a 21.2 per cent year-on-year rise in consolidated net profit for Q2 FY25. The company’s stock ended 3.76 per cent higher at Rs 548.70 on the BSE. During the day, it soared 5.52 per cent to Rs 558. At the NSE, it climbed 3.59 per cent to Rs 547.75.

During the day, the stock jumped 5.60 per cent to Rs 558.40. The company’s market valuation surged Rs 10,414.4 crore to Rs 2,87,049.91 crore. In traded volume, 20.55 lakh shares of the firm were traded on the BSE and 373.27 lakh shares on the NSE during the day. Wipro on Thursday posted a 21.2 per cent year-on-year rise in its consolidated net profit to Rs 3,208.8 crore for Q2 FY25 on higher operating profit but gave weak revenue guidance for the next quarter. It had reported a profit of Rs 2,646.3 crore in the year-ago period.

The revenue from operations for the reporting quarter was Rs 22,301.6 crore, a 0.95 per cent decline from Rs 22,515.9 crore in Q2 FY24. Wipro CEO and MD Srini Pallia said the Q2 was driven by strong execution, which enabled the Bengaluru-based firm to meet its 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, technology and communications sectors,” he said. However, its revenue for the October-December quarter is expected to be affected by “seasonal furloughs and fewer working days”, Pallia said during the company’s earnings press conference. “As a result, we are guiding a sequential revenue growth of -2 per cent to 0 per cent in constant currency. Despite softness in revenue in Q3, we are confident of maintaining our margin in a narrow band,” he said.