New Delhi, Oct 17 (Reporter) IT major Wipro on Thursday announced over 21 percent jump in net profit at Rs 3210 crore (Rs 32.1 billion) y-o-y basis in the second quarter (July-September) period of 2024-25 fiscal. The company’s revenues from operations, however, declined marginally by one percent to Rs 22,300 crore (or Rs 223.0 billion) in the quarter. Wipro’s Board of Directors recommended issue of bonus shares to shareholders (including stock dividend to ADS holders) in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to approval of shareholders, the company said in a release. On the outlook for the next quarter, the company said “We expect revenue from our IT Services business segment to be in the range of USD 2,607 million to USD 2,660 million. This translates to sequential guidance of (-) 2.0% to 0.0% in constant currency terms.” Commenting on the performance, Srini Pallia, CEO and Managing Director Wipro, said “Based on strong execution in Q2, we met our expectations for revenue growth, bookings, and margins. We continued to expand our top accounts, large deal bookings surpassed USD 1 Billion once again, and Capco maintained its momentum for another consecutive quarter. We grew in three out of four markets, as well as, in BFSI, Consumer and Technology and Communications sectors. We will continue to invest in our clients, our strategic priorities, and building a strong AI powered Wipro.” In the second quarter, Wipro continued to win large and strategic deals across industries. Key highlights include, a US-based health insurance provider has selected Wipro to streamline its operations. By consolidating the client vendor landscape, Wipro will mitigate the risks associated with relying on multiple providers. The Wipro team will leverage its varied expertise to drive efficiency and innovation, optimize costs, as well as provide the tools and expertise to ensure the accuracy, integrity and security of the customer’s data. This project will ensure better care coordination and health outcomes. A global apparel leader has selected Wipro to enhance its direct-to-consumer strategy and digital footprint. Wipro will transform the client's IT operations and improve overall product development. Wipro will also deploy artificial intelligence in key areas. The project will drive innovation, optimize operations and create a seamless customer experience across both physical and online platforms. Aparna Iyer, Chief Financial Officer, said “I am pleased with our performance across all parameters including Revenue, Bookings, Operating margin, cash flow and EPS. On the back of operational improvements, we further expanded our margins by 35 basis points and our EPS grew 6.8% QoQ. Our operating cash flow continues to be robust at 132.3% of net income in Q2. As a result, cumulatively in the first half of this year we generated nearly $1B in operating cash flow.” Some other key highlights of the deals during the quarter are -- a US-based health insurance company has selected Wipro to improve its operations. The Wipro team will consolidate the client’s vendor landscape and provide services with innovative solutions & accelerators to improve overall operational efficiency. This work will enhance customer and employee experience as well as ensure smooth service delivery. Wipro’s deep domain knowledge and consultative and innovative approach, as well as its track record of flawless delivery were key factors contributing to this win. A US-based wholesale food distributor has selected Wipro to reimagine its business operations. Leveraging AI and process transformation tools, Wipro will create a centralized system across key support functions including Human Resources, Financial Planning & Analysis and Data Management. This will help the client enhance efficiency, standardize processes, and achieve cost-effectiveness across its organization...////...