Stocks

Wipro shares climb nearly 8 per cent post Q2 earnings

PTI New Delhi | Updated on October 14, 2021

On NSE, it gained 7.62 per cent to its 52-week high of Rs 723.90

Shares of IT company Wipro on Thursday zoomed nearly 8 per cent after it posted a 17 per cent jump in consolidated net profit for the quarter ended on September 30, 2021.

The stock jumped 7.59 per cent to its 52-week high of Rs 723.65 on BSE.

On NSE, it gained 7.62 per cent to its 52-week high of Rs 723.90.

Wipro’s IT services revenue jumps 29.5% in Q2

The IT company posted a 17 per cent jump in consolidated net profit to Rs 2,930.6 crore for the quarter ended on September 30, 2021. The company had posted a net profit of Rs 2,484.4 crore in the same period a year ago. Wipro said that it has surpassed USD 10 billion (around Rs 75,300 crore) annualised revenue run rate and is in position to hire 25,000 people in the next financial year.

The company is also resuming work back from office in a staggered manner starting with fully vaccinated senior colleagues in India.

Consolidated revenue of Wipro increased by about 30 per cent to Rs 19,667.4 crore during the quarter compared to Rs 15,114.5 crore it registered in the corresponding quarter of 2020-21.

"The Q2 results demonstrate that our business strategy is working well. We grew at over 4.5 per cent organic sequential growth for a second quarter in a row, resulting in a 28 per cent YoY growth in the first half of this financial year," Wipro CEO and MD Thierry Delaporte said.

Published on October 14, 2021

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