Indian IT major Wipro has been one of the companies that has consistently rewarded its shareholders over a long period of time through issuance of bonus shares. The company has announced bonus issues five times since 2004. Bonus shares are fully paid-up additional shares issued by the company to its existing shareholders.
newest bonus share The offer was made more than three years ago in March 2019, when the IT company offered bonus shares to its shareholders in the ratio of 1:3, which means that the shareholders will be given bonus shares for every three shares held in the company. Got a spare part.
before this, IT Stock The last four issuance of bonus shares were announced in the ratio of 1:1 in June 2017, 2:3 in June 2010, 1:1 in August 2005 and 2:1 in June 2004 . by Capitoline.
Wipro Ltd. is a leading technology service and consulting company. Wipro shares are down more than 28% so far in 2022 (Year-to-date or YTD).
For the first quarter ended June 2022 or Q1 FY23, Indian IT company net profit down 20.7% 2,563 crore from 3,232 crore in the year-ago period. Revenue up 19% year-on-year for June quarter 21,529 crore on account of strong demand environment for cloud, digital engineering and cyber security services.
Wipro’s expenses, including employee costs, jumped nearly 23% during the first quarter ended June 2022 18,647.5 crores, with an accident rate at 23.3%. Operating margin in the IT services segment declined by 200 basis points to 15% quarter-on-quarter. As of 30 June 2022, Wipro had 2,58,574 employees.
Wipro forecast higher revenue growth from IT services on the back of a strong project pipeline, and said June-quarter profit is likely to reduce margins after higher expenses.
On Q2 outlook, the firm said, “We expect revenue from our IT services business to be in the range of USD 2,817 million to USD 2,872 million. This translates to a sequential growth of 3 per cent to 5 per cent”. Along with its Q2 guidance, the company expressed confidence that it will “very comfortably” grow double digits for fiscal year 2023.
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