Wipro Ltd. has announced its financial results for the second quarter ending September 30, 2024 (Q2 FY24). The company reported a strong year-on-year (YoY) growth in both net profit and revenue, showcasing steady performance despite challenging market conditions.
Key Financial Metrics (Q2 FY24 vs Q2 FY23):
- Revenue from operations:
- Q2 FY24: Rs 23,016 crore
- Q2 FY23: Rs 21,830 crore
- YoY Growth: 5.5% increase
- Net profit:
- Q2 FY24: Rs 3,226 crore
- Q2 FY23: Rs 3,032 crore
- YoY Growth: 6.4% increase
- Other income:
- Q2 FY24: Rs 619 crore
- Q2 FY23: Rs 729 crore
- YoY Decline: 15.1% decrease
- Other expenses:
- Q2 FY24: Rs 1,974 crore
- Q2 FY23: Rs 1,647 crore
- YoY Increase: 19.8% increase, indicating a rise in operational costs.
Quarter-on-Quarter (QoQ) Performance:
- Revenue from operations:
- Q2 FY24: Rs 23,016 crore
- Q1 FY24: Rs 23,159 crore
- QoQ Decline: Marginal drop of 0.6%
- Net profit:
- Q2 FY24: Rs 3,226 crore
- Q1 FY24: Rs 3,037 crore
- QoQ Growth: 6.2% increase
Expenses and Margins:
- Employee benefits expense saw a notable increase, rising to Rs 13,469 crore in Q2 FY24 from Rs 12,938 crore in Q2 FY23.
- Finance costs were Rs 3,695 crore in Q2 FY24, up from Rs 3,288 crore in the same quarter last year.
- Total expenses surged to Rs 18,960 crore, compared to Rs 17,435 crore in Q2 FY23, reflecting a rise of 8.7% YoY.
Earnings per Share (EPS):
- Basic EPS for Q2 FY24 stood at Rs 6.14, up from Rs 5.75 in Q2 FY23.
- Diluted EPS also saw an increase, reaching Rs 6.12 from Rs 5.73 in the previous year.
Conclusion:
Wipro continues to deliver solid growth in revenue and net profit, even as it manages rising operational expenses. With strong financial fundamentals, the company remains well-positioned for future growth.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. Readers are advised to consult a financial advisor before making any investment decisions.
