Wipro Board To Discuss Issue of Bonus Shares in Next Meeting Before Q2 Results

Highlights

• Wipro board of directors will discuss the issue of bonus shares.
• The company recently reported a 4.6% increase in consolidated net profit for Q2 FY25
• The revenue declines by 3.8%.

The Indian multinational Tech Company Wipro recently announced that its board of directors will consider the issue of bonus shares at the upcoming board meeting. The meeting is scheduled for October 16-17, 2024.

Wipro is also set to announce its Q2 FY25 results on October 17, 2024.

The information communication (IT) company in the past had issued bonus shares for its investors 5 years ago on May 6, 2019, in a 1:3 ratio. Other than that Wipro issued bonus shares in 2017 as well in 1:1 ratio.

In the regulatory filing, Wipro stated, “The board of directors of the company will be considering a proposal for the issue of bonus shares, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, at its meeting scheduled to be held over October 16-17, 2024.”

The Bengaluru-headquartered firm recently also reported a 4.6 per cent year-on-year increase in its consolidated net profit in the June-ended quarter at Rs 3,003.2 crore. The revenue, however, declined 3.8 per cent to Rs 21,963.8 crore.

Wipro CEO and MD Srini Pallia revealed that the company is “confident” in its ability to execute better on bookings and profitable growth in the second quarter. It also continues to build on the ai360 strategy and prepare the workforce for future projects that will be AI-heavy.

Meanwhile, Shares of Wipro ended Friday at Rs 528.95 on the BSE, which was 0.77 per cent higher than the previous day’s numbers.

In the past one year, Wipro shares have gained 28.6 per cent against Sensex’s rise of 23 per cent.

FAQs

Q1. When will Wipro’s board of directors discuss the issue of bonus shares?

Answer. The board of directors of the company will be considering a proposal for the issue of bonus shares at its meeting scheduled to be held over October 16-17, 2024.

Q2. What was Wipro’s consolidated net profit in the June-ended quarter?

Answer. The Bengaluru-headquartered firm recently reported a 4.6 per cent year-on-year increase in its consolidated net profit in the June-ended quarter at Rs 3,003.2 crore.

Q3. What is Wipro CEO and MD Srini Pallia’s outlook for the second quarter?

Answer. Wipro CEO and MD Srini Pallia revealed that the company is “confident” in its ability to execute better on bookings and profitable growth in the second quarter.

Also Read : Tech News

Also Read : Latest Articles