Wipro brings cheer with bonus

Infosys was generous with a dividend and Wipro has been even more generous, announcing a liberal 1:1 bonus along with its results. The bonus sweetener was good enough to remove the bitterness of its guidance. The company has guided a revenue growth at $1915-1955 million , which is actually a degrowth of up to 2%.

On the performance front, the company’s IT consolidated services revenue rose by a small 2% (QoQ) at Rs.13,402 crore. The growth is EBIT was much better at 5% at Rs.2527 crore while margins moved up from 18.3% to 18.85%.

The company ended the quarter with a net profit at Rs.2267 crore, up 7%.

In dollar terms, revenue was up 3% at $1955 million.

The stock price is volatile where during the early trading session it went up to Rs.514, up almost 4% and now it is in the red at Rs.492 levels. Volumes though are up over 7 times.