In the latest financial report, IT major Wipro Limited has posted a 21 per cent increase in net profit for the second quarter of FY25. The company’s net profit rose from Rs 2646 crore to Rs 3209 crore year-on-year, showcasing a strong performance. However, the consolidated revenue for the July-September quarter declined slightly to Rs 22,302 crore compared to Rs 22,543 crore for the same period last year. This was the result of a 6.8 per cent growth in net income quarter-on-quarter, and a 21.3 per cent increase year-on-year. Revenue from IT Services also experienced a 1.3 per cent growth quarter-on-quarter.
Furthermore, Wipro reported an expansion of 35 basis points in net margin quarter-on-quarter, indicating improved efficiency and profitability. The company’s Large Deal Bookings reached USD 1.5 billion, marking the highest in the last 10 quarters. Operating cash flows stood at Rs 42.7 billion, with a YoY increase of 10.5 per cent, which is equivalent to 132.3 per cent of the net income for the quarter. In addition, the board of directors approved the issuance of bonus shares to shareholders in a 1:1 ratio, subject to shareholder approval.
Srini Pallia, CEO and Managing Director of Wipro, expressed satisfaction with the company’s performance in Q2FY25. He highlighted the achievement of revenue growth, bookings, and margins. Pallia emphasized the expansion of top accounts, with large deal bookings exceeding $1 billion once again. He also praised Capco for maintaining momentum over consecutive quarters. Pallia noted the company’s growth in three out of four markets, as well as in the BFSI, Consumer, and Technology and Communications sectors. He underscored the focus on investment in clients, strategic priorities, and the development of AI-powered solutions.
Aparna Iyer, Chief Financial Officer of Wipro, also lauded the company’s performance in the latest quarter. She expressed satisfaction with the results across various parameters including revenue, bookings, operating margin, cash flow, and EPS. Iyer highlighted the expansion of margins by 35 basis points and a 6.8 per cent growth in EPS quarter-on-quarter. The robust operating cash flow, representing 132.3 per cent of net income in Q2, further demonstrated the company’s financial strength. Cumulatively, Wipro generated nearly $1 billion in operating cash flow in the first half of the financial year.
In conclusion, Wipro Limited’s strong financial performance in Q2FY25 reflects its ability to deliver growth, profitability, and operational excellence. The company’s focus on expanding top accounts, securing large deal bookings, and investing in strategic priorities has contributed to its success. With a robust operating cash flow, improved margins, and a positive outlook for future growth, Wipro is poised to continue its path of success in the dynamic IT industry.
