Wipro Limited announces bonus shares

Wipro LimitedWipro Ltd on Tuesday 25 April 2017, posted a marginal increase in its net profit at Rs. 2,267 crore for the quarter ended March. The company had registered a profit of Rs. 2,257.3 crore in the year-ago period. The total income stood at Rs. 15,033.8 crore in the above quarter versus Rs. 14,312.7 crore in the year-ago period, up over 5%.

Wipro Ltd declated that it will issue bonus shares within the next two months, with a view to encourage involvement of small investors and to enhance liquidity and expand retail shareholder base. The move comes following the earlier announcement of TCS and Infosys share buybacks to offer rich returns to shareholders.

Wipro’s profit fell nearly 5% to Rs. 8,518 crore, for the year ended March 2017. The total income grew 7.4% to Rs. 57,995 crore compared to the previous financial year.

The company expects profit from its IT domain to be in the range of USD 1,915-1,955 million for the April-June 2017 quarter. This grew 3.9% in the March quarter to usd 1,954.6 million from the year-ago period.