Wipro board to consider issuing bonus shares ahead of September quarter results

The Bengaluru-based company recorded a 4.6 percent year-on-year increase in its consolidated net profit in the quarter ended June at Rs 3,003.2 crore. Its revenue declined by 3.8 percent to Rs 21,963.8 crore. (Photo: Shutterstock)

2 minutes of reading Last update: October 13, 2024 | 7:38 p.m. STI

IT firm Wipro on Sunday said its board of directors will consider issuing bonus shares at a meeting scheduled for October 16-17, 2024.

Wipro is expected to announce its Q2FY25 results on October 17, 2024.

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“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 therein), the Securities and Exchange Board of India ( Issuance of Capital and Disclosure Requirements Regulations, 2018, at its meeting scheduled to be held on October 16-17, 2024,” a regulatory document said.

The Bengaluru-based company recorded a 4.6 percent year-on-year increase in its consolidated net profit in the quarter ended June at Rs 3,003.2 crore. Its revenue declined by 3.8 percent to Rs 21,963.8 crore.

Wipro CEO and MD Srini Pallia said the company is “confident” in its ability to better execute on bookings and profitable growth in the second quarter as it continues to develop the ai360 strategy and prepare its workforce for a AI-first future.

Shares of Wipro closed at Rs 528.95 on Friday on the BSE, up 0.77% from the previous close.

(Only the title and image of this report may have been reworked by the Business Standard team; the rest of the content is automatically generated from a distributed feed.)

First published: October 13, 2024 | 7:38 p.m. STI