Wipro Q2 Results Net Income Reaches ₹3,208.8 Crores

The Wipro financial table shows the company’s performance for the second quarter (Q2) of 2024 compared to the first quarter (Q1) and the same quarter from the previous year. In Q2, Wipro's total revenue was ₹22,301.6 Crores, which is a small increase of 1.54% from Q1. However, compared to last year’s Q2, revenue decreased by 0.95%. Despite this revenue drop, Wipro’s profit increased significantly. The net income for Q2 was ₹3,208.8 Crores, rising by 6.85% from Q1 and showing a strong growth of 21.26% compared to last year’s Q2.

Wipro also improved its earnings per share (EPS), which indicates how much profit each share of stock earned. The EPS for Q2 was ₹6.17, an increase of 7.65% from Q1 and 21.02% from last year’s Q2. The company successfully reduced its selling and administrative expenses by 2.73% from the previous quarter and by 6.47% from last year. 

Here’s a summary of Wipro's Q2 results for 2024:

Source: Here 

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Wipro Q2 Results 

Wipro earned ₹168,958 million in revenue from its main business in the September quarter, while other income, like interest or small side businesses, added ₹10,461 million. Altogether, their total income for the three months was ₹179,419 million. For the six months, Wipro made ₹350,887 million in total income.

Wipro’s employee costs were the highest, with ₹95,036 million for the three months, and they spent money on things like travel, legal fees, and technical services. The total expenses were ₹142,338 million in the September quarter, meaning they spent a large part of their earnings on operations and salaries.

Wipro’s profit before taxes was ₹37,081 million. Then, after paying taxes of ₹9,946 million, their profit for the quarter was ₹27,135 million. For the six months, they earned ₹50,881 million in profit.

Here is the data in table format:

(Rs. in millions, except the shares)

Wipro Financial Metrics

Wipro's market capitalization, which is the total value of its shares, is ₹ 2,87,416 crores. The current stock price is ₹ 549, with the highest price in the last year being ₹ 580 and the lowest ₹ 375. The Price-to-Earnings (P/E) ratio is 24.5, meaning the stock price is 24.5 times the company's earnings. Wipro's book value per share is ₹ 156. Its dividend yield is 0.19%, and it has a Return on Capital Employed (ROCE) of 16.9% and a Return on Equity (ROE) of 14.3%, both showing profitability.

Here’s the data presented in table format:

Quarterly Results 

For March, June, and September 2024, Wipro's financial data shows steady performance. In March 2024, sales reached ₹22,208 crores, with an operating profit of ₹4,381 crores and a net profit of ₹2,858 crores. By June 2024, sales slightly dropped to ₹21,964 crores, but operating profit remained strong at ₹4,350 crores, and net profit increased to ₹3,037 crores. September 2024 saw a small rise in sales to ₹22,302 crores, with an even higher operating profit of ₹4,503 crores and net profit reaching ₹3,227 crores. 

Here’s the data for March 2024, June 2024, and September 2024, with the particulars:

About Wipro 

Wipro is a major Indian technology company that provides a variety of services, including information technology, consulting, and business process outsourcing. It was founded on December 29, 1945, by M. H. Hasham Premji in Amalner, Maharashtra, initially focusing on making cooking oils. Over the years, the company shifted its focus to technology and software services, becoming one of the top IT firms in India. Azim Premji, the founder's son, took over as chairperson at just 21 years old after his father's death.

Today, Wipro operates in 167 countries and offers services like cloud computing, data analytics, artificial intelligence, and cybersecurity. The company is listed on major stock exchanges and is part of the Nifty 50 index. With over 234,000 employees, Wipro continues to grow and adapt to the changing needs of businesses around the world, aiming to deliver innovative solutions to its clients.