IT firm Wipro to consider issuing bonus shares

BENGALURU: IT services firm Wipro has said that its Board of Directors will be considering a proposal for issue of bonus shares. The company will be announcing its second quarter FY25 results on October 17. In a regulatory filing on Sunday, the IT company said, “The Board of Directors of the Company will be considering a proposal for issue of bonus shares, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, at its meeting scheduled to be held over October 16-17, 2024.” According to analysts, Wipro may guide -1 to +1% QoQ despite improvement in US banking and Capco. In Q1, Wipro reported a 5.21% increase in consolidated net profit at R 3,003 crore. Its consolidated revenue declined by 3.7% to R21,964 crore in the first quarter.