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Wipro Q2 profit rises 21% to ₹3,201 cr
Business Standard
|October 18, 2024
Bengaluru-based IT services major Wipro's net profit increased 21.3 per cent year-on-year (Y-o-Y) to ₹3,201 crore for the second quarter of FY25. Sequentially, the net profit rose 6.8 per cent.
Revenue for the quarter stood at ₹22,300 crore, down 1 per cent Y-o-Y but up 1.5 per cent quarter-on-quarter (Q-o-Q). Wipro's performance exceeded Bloomberg estimates, which had forecasted revenue at ₹22,234.8 crore and net profit at ₹3,008 crore.
IT services segment revenue was $2,660 million, a 2 per cent decline Y-o-Y but up 1.3 per cent Q-o-Q. The sequential growth came after a decline for six quarters.
The company's large deal bookings increased 16.8 per cent Y-o-Y and 28.2 per cent Q-o-Q to reach $1.5 billion. This marked the highest total contract value (TCV) signed in the past 10 quarters.
This story is from the October 18, 2024 edition of Business Standard.
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