Key Points
- Board meeting on October 17.
- Looking into a bonus share proposal.
- Net profit up by 4.6% recently.
- Consolidated revenue down by 3.8% last quarter.
- Wipro shares finished at Rs 528.45, up by 0.66%.
Looma News
Wipro Ltd is gearing up for an important board meeting on October 17, where they’ll be discussing the possibility of issuing bonus shares. This is exciting news for shareholders eager to see how the company plans to reward them. They’ll also be announcing their second quarter results, which should shed some light on their financial health.
A Mixed Bag of Results
Wipro’s latest financial performance shows a bit of a mixed picture. Their net profit jumped by 4.6% year-on-year, reaching Rs 3,003 crore, but they did see a 3.8% drop in consolidated revenue, which now stands at Rs 21,964 crore. The profit increase was a pleasant surprise, indicating that Wipro is keeping costs in check despite revenue challenges.
On the stock market side, Wipro shares have been gaining a little traction, closing at Rs 528.45 with a 0.66% increase. This uptick might reflect investor optimism as they wait for the upcoming announcements. It’ll be interesting to see if the bonus share issue proposal finalised and shareholders will get its benifits.
