Wipro’s Q2FY25 Results
Wipro’s revenues grew 2.5% sequentially
- 21 Oct 2024
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- Wipro reported a 2.5% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter ended September (Q2FY25). On a year-on-year (YoY) basis, it witnessed a marginal growth of 0.03%.
- Its expenses for the quarter were up by 1.7% QoQ and down by 3.8% YoY.
- The net profit increased by 6.3% QoQ and 21% YoY.
- The earnings per share (EPS) of Wipro stood at 6.1 during Q2FY25.
Wipro’s Financial Statements for Q2FY25:
| (₹ crores) | Q2FY24 | Q1FY25 | Q2FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 23,256 | 22,694 | 23,264 | 2.5% | 0.03% |
Total expenses | 19,744 | 18,667 | 18,986 | 1.7% | -3.8% |
Profit before tax | 3,509 | 4,022 | 4,278 | 6.4% | 21.9% |
Tax | 842 | 985 | 1,051 | 6.7% | 24.9% |
Profit after tax | 2,667 | 3,037 | 3,227 | 6.3% | 21.0% |
Earnings per share | 5.0 | 5.7 | 6.1 |
Financials:
For the quarter ended September 30, 2024
- Gross revenue was at ₹223.0 billion ($2,662.6 million), an increase of 1.5% QoQ and a decrease of 1.0% YoY.
- IT services segment revenue was at $2,660.1 million, an increase of 1.3% QoQ and a decrease of 2.0% YoY.
- Non-GAAP2 constant currency IT Services segment revenue increased 0.6% QoQ and decreased 2.3% YoY.
- Total bookings3 was at $3,561 million. Large deal bookings were at $1,489 million, an increase of 28.8% QoQ and 16.8% YoY in constant currency .
- IT services operating margin for the quarter was at 16.8%, an increase of 0.3% QoQ and 0.7% YoY.
- Net income for the quarter was at ₹32.1 billion ($383.1 million), an increase of 6.8% QoQ and 21.3% YoY.
- Earnings per share for the quarter was at ₹6.14 ($0.071), an increase of 6.8% QoQ and 21.3% YoY.
- Operating cash flows were at ₹42.7 billion ($509.7 million1), an increase of 10.5% YoY and at 132.3% of the Net Income for the quarter.
- Voluntary attrition was at 14.5% on a trailing 12-month basis.
- Wipro’s Board of Directors recommended the issue of bonus shares to shareholders (including stock dividends to ADS holders) in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to the approval of shareholders.
Management Commentary:
Srini Pallia, CEO and Managing Director:
- Strong Q2 execution met expectations for revenue, bookings, and margins.
- Top accounts expanded, and large deal bookings exceeded $1B.
- Growth was achieved in 3 out of 4 markets, especially in the BFSI, Consumer, and Technology sectors.
- Focused on investing in clients, strategic priorities, and AI-powered Wipro. Aparna Iyer, Chief Financial Officer:
- Performance across revenue, bookings, margins, cash flow, and EPS was strong.
- Operating margins expanded by 35 basis points, and EPS grew at 6.8% QoQ.
- Operating cash flow was at 132.3% of net income, generating nearly $1B in the first half of the year.
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
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