Wipro Q2 Results Live: Profit Rises by 21.26% YoY

Wipro Q2 Results Live : Wipro declared its Q2 results on 17 October 2024, showcasing a mixed performance. The company reported a revenue decrease of 0.95% year-over-year (YoY), yet managed to achieve a significant profit increase of 21.26% YoY.

In comparison to the previous quarter, Wipro's revenue experienced a growth of 1.54%, while profit saw a rise of 6.85%. This indicates a recovery trend in profitability despite the overall revenue dip.

The company noted a reduction in selling, general, and administrative expenses, which declined by 2.73% quarter-over-quarter (QoQ) and 6.47% YoY. This cost control measure has contributed positively to their operating income, which was up by 2.99% QoQ and 11.41% YoY.

Earnings per share (EPS) for Q2 stood at ₹6.17, reflecting a YoY increase of 21.02%. This robust growth in EPS highlights Wipro's ability to enhance shareholder value amidst challenging revenue conditions.

In terms of stock performance, Wipro has delivered a 0.71% return over the past week, 18.99% over the last six months, and 12.19% year-to-date (YTD). The current market capitalization of the company is ₹276,300.1 Crores, with a 52-week high of ₹579.9 and a low of ₹375.05.

As of 18 October 2024, out of the 37 analysts covering Wipro, 7 have rated it as a Strong Sell, 14 as Sell, 9 as Hold, 5 as Buy, and 2 as Strong Buy. The consensus recommendation is to Sell, reflecting a cautious outlook among market analysts.