Wipro net up 32%, to issue 1:3 bonus shares

IT services major Wipro on Friday posted a 31.8 per cent increase in consolidated net profit at Rs 2,544.5 crore for October-December 2018 compared to the year-ago period. The company’s board has also approved an issue of bonus shares — offering one bonus share for every three held by shareholders, a BSE filing said.

The net profit in the October-December 2017 quarter was at Rs 1,930.1 crore. Wipro's revenue from operations expanded 10.17 per cent to Rs 15,059.5 crore during the period from Rs 13,669 crore a year ago.

"Our strategic investments, backed by strong client relationships and client spends towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter," Wipro CEO and executive director Abidali Z Neemuchwala said.