Moneycontrol
HomeNewsBusinessMarketsWipro shares soar almost 5% as Q2 earnings beat street expectations
Trending Topics

Wipro shares soar almost 5% as Q2 earnings beat street expectations

October 18, 2024 / 11:15 IST
Story continues below Advertisement

Wipro Ltd

Wipro shares surged nearly 5 percent on October 18 after the IT giant delivered earnings that exceeded street expectations on all major fronts, marking its first sequential revenue growth in six quarters of decline.

By 10:40 AM, Wipro's shares were trading 3.6 percent higher at Rs 547.80, with the stock gaining 14 percent year-to-date, keeping pace with the Nifty 50's performance.

Story continues below Advertisement

Wipro's consolidated net profit for Q2 FY25 rose by nearly 7 percent quarter-on-quarter to Rs 3,209 crore, surpassing Moneycontrol's estimate of Rs 3,011 crore. Revenue from operations increased by 1.5 percent QoQ to Rs 22,302 crore, beating Moneycontrol's forecast of Rs 22,219 crore.

Operating margins for the quarter improved by 30 basis points to 16.8 percent, exceeding the anticipated 16.4 percent.