IT company Wipro on Sunday said its board of directors will consider the issuance of bonus shares at a meeting scheduled for October 16-17, 2024. Wipro is expected to announce its second quarter FY25 results on October 17 2024.

“The Board of Directors of the Company will consider a proposal for the issue of bonus shares, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations made thereunder), the Securities and Exchange Board of India (Question of Capital and Disclosure Requirements Regulations, 2018, at its meeting scheduled for October 16-17, 2024), a regulatory filing said.

The Bangalore-based company recorded a 4.6 per cent year-on-year increase in its consolidated net profit in the quarter ended June at Rs 3,003.2 crore. Its revenue declined 3.8% to Rs 21,963.8 crore.

Wipro CEO and Managing Director Srini Pallia said the company is “confident” in its ability to better execute bookings and achieve profitable growth in the second quarter, while continuing to build on the ai360 strategy and to prepare its workforce for an AI-driven future.

Shares of Wipro settled at Rs 528.95 on the BSE on Friday, 0.77 per cent higher than the previous close.