Wipro announces gift to shareholders on festive season, bonus shares in the ratio of 1:1

Wipro Bonus Share Issue: The country’s leading IT company Wipro has given a gift to its shareholders during the festive season. The company has announced to give bonus shares to its shareholders in the ratio of 1:1. The company has not yet announced the record date for granting bonus shares but has said that the bonus shares will be credited within two months of getting approval from the board i.e. by December 15, 2024.

Wipro’s board meeting was held on 16-17 October. In this meeting, along with approving the results for the second quarter of the financial year 2024-25, approval was also given to give bonus shares to the shareholders. Wipro shareholders will be given one bonus share in exchange for one share. Earlier in the year 2019 also, the company had given bonus shares to the shareholders.

The company has also announced the results for the current financial year. The company said that it has made a profit of Rs 3209 crore in the second quarter, which is 21 percent more than the net profit of Rs 2646 crore in the same quarter of the last financial year. The company’s revenue from operations stood at Rs 22,302 crore in the second quarter, which is less than Rs 22,516 crore in the same quarter of its financial year.

On the quarterly results, the company’s CEO and MD Srinivas Palliya said, due to the strong performance in the second quarter, Wipro has been successful in meeting its revenue growth, bookings and margin expectations. He told that the company has been successful in expanding the top accounts. Booking of big deals has crossed one billion dollars.

Wipro’s quarterly results along with the announcement of bonus shares have come after the market closed. Earlier in today’s trading session, Wipro shares closed at Rs 528.75 with a decline of 0.64 percent.

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