BAJAJ BROKING

Notification
No new Notification messages
One Mobikwik Systems IPO is Open!
Apply for the One Mobikwik Systems IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Wipro Q2 Results FY24-25 Highlights: Net Income Grows by 21.3%, $1.5 Billion worth Large Deals

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Wipro's Q2 FY24-25 results highlight a 21.3% growth in net income, driven by strong large deal bookings and operational efficiency. The company reported a 1.5% revenue increase QoQ and improved its operating margin by 35 basis points.

In Q2 FY24-25, Wipro delivered a strong financial performance with notable improvements across key metrics. The company recorded a 21.3% year-on-year (Y-o-Y) growth in net income, coupled with significant large deal bookings and steady operational efficiency.

Key Highlights/Quick Insights:

  • Gross Revenue: ₹223.0 billion ($2.66 billion), up 1.5% quarter-on-quarter (QoQ) and decrease of 1% YoY.
  • Net Income: ₹32.1 billion ($383.1 million), a 21.3% increase Y-o-Y.
  • IT Services Operating Margin: 16.8%, up 0.3% QoQ and 0.7% YoY.
  • Large Deal Bookings: $1.5 billion, the highest in 10 quarters.
  • Operating Cash Flow: ₹42.7 billion, 132.3% of net income, a 10.5% Y-o-Y increase.

Wipro's strong financials this quarter reflect its operational resilience and commitment to driving growth through strategic large deals.

WIPRO LTD

Trade

3090.89 (0.28 %)

Updated - 11 December 2024
309.90day high
DAY HIGH
305.55day low
DAY LOW
8608406
VOLUME (BSE)

Quarterly - Wipro Q2 Results FY24-25

Wipro's gross revenue for Q2 FY24-25 stood at ₹223.0 billion, a 1.5% QoQ increase, though it marked a slight decline of 1.0% Y-o-Y. The company's consolidated net income was ₹32.1 billion, up 6.8% QoQ and 21.3% Y-o-Y, driven by solid operational improvements.

The company’s IT Services revenue for Q2 FY24-25 reached $2.66 billion, with a 1.3% QoQ growth. Notably, the company secured large deal bookings worth $1.5 billion, reflecting a 16.8% Y-o-Y increase.

Segment Highlights

  • Americas Contributed 30.8% to total revenue, showing steady growth across financial services and healthcare.
  • Europe: Accounted for 27.9% of revenue, slightly declining due to market conditions in the region.
  • APMEA: Contributed 10.7%, showcasing growth in the technology and communications sectors.

Wipro’s strategic focus on large deals, particularly in the Americas, has contributed significantly to the company's revenue.

Sector Expectations for Wipro Q2 Results FY24-25

Wipro's Q2 results exceeded expectations, particularly with the company's strong operational performance and robust deal wins. The company’s operating margin improved by 35 basis points to 16.8%, and the large deal bookings further emphasized Wipro's continued focus on growth across key markets. These results aligned with sector expectations, with Wipro continuing to maintain a competitive edge in the IT services landscape.

Management Commentary

Srini Pallia, CEO and MD of Wipro expressed satisfaction with the company’s performance in Q2, “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 Bn 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 and Technology and Communications sectors. We will continue to invest in our clients, our strategic priorities, and building a strong AI-powered Wipro.”

Detailed Financial Table (Consolidated Figures):

Particulars

Q2 FY24-25 (₹ in Cr)

Q2 FY23-24 (₹ in Cr)

Y-o-Y Growth (%)

Gross Revenue

22,300

22,515

-1.00%

Profit for the Period

3,210

2,650

21.30%

Operating Margin (%)

16.80%

16.10%

70 bps

Operating Cash Flow

4,270

3,861

10.50%

Earnings Per Share (₹)

6.14

5.06

21.30%

Conclusion:

Wipro’s Q2 FY24-25 results emphasize the company’s ability to secure large strategic deals and deliver consistent growth in net income, with a 21.3% Y-o-Y increase. The company's strong operational performance and focus on expanding into new markets position it well for continued success in the coming quarters. With steady improvements in operating margins and a robust cash flow, Wipro remains a formidable player in the global IT services industry.

Check out Wipro's past performances in previous quarters and financial years.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4700+ Cr MTF Book

icon-with-text