Wipro on Thursday announced its first bonus issue since 2019 in the ratio of 1:1. The IT major, which also announced its quarterly results today, declared at least three bonus issues before today’s in the past 15 years. Overall, Wipro has announced nine bonus issue till date, as per data compiled with corporate database AceEquity.
Wipro declared its previous bonus issue in 2019 in the 1:3 ratio. The stock went ex-bonus on March 6, 2019. Wipro had announced bonus shares in the ratio of 1:1 in 2017. Before that, Wipro announced bonus shares in the ratio of 2:3 in 2010. It announced bonus shares in 2005 (1:1) and 2004 (2:1). In 1997, Wipro announced a bonus issue in the 2:1 ratio. It also announced 1:1 bonus issues each in 1995 and 1992.
Last year, the IT major also came out with a share buyback plan.
Wipro Q2 results
For the September quarter, Wipro Ltd posted a 21.26 per cent year-on-year (YoY) surge in its September quarter consolidated net profit compared with Rs 2,646.30 crore in the year-ago period. This was better than Street estimates.
The IT major said its revenue from operations fell 0.95 per cent to Rs 22,301.6 crore from Rs 22,515.9 crore in the corresponding period last fiscal. This was largely in line with Street estimates. IT Services revenue for Wipro grew 1.3 per cent QoQ, while its margin expanded 35 basis points sequentially. Large Deal Bookings came in at $1.5 billion, highest in 10 quarters.
Wipro expects revenue from its IT Services business segment to be in the range of $2,607 million to $2,660 million in the third quarter. This translates to sequential guidance of (-) 2 per cent to nil growth in constant currency terms.
Srini Pallia, CEO and Managing Director, said “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 billion 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”
“On the back of operational improvements, we further expanded our margins by 35 basis points and our EPS grew 6.8 per cent QoQ. Our operating cash flow continues to be robust at 132.3 per cent of net income in Q2. As a result, cumulatively in the first half of this year we generated nearly $1B in operating cash flow,” said Chief Financial Officer Aparna Iyer.
