Wipro Ltd (NYSE:WIT) stock slid after the company reported second-quarter results. The company reported gross revenue of 223.0 billion rupees ($2.66 billion), down by 1.0% year-on-year, missing the analyst consensus estimate of $2.

Wipro reported a 21% increase in net profit, reaching Rs 3,209 crore for the quarter ending in September, compared to Rs 2,646 crore in the same period last year.

IT company Wipro on Thursday reported a 21.2 per cent increase in its consolidated net profit to Rs 3,208.8 crore for the second quarter of FY25. It had reported a profit of Rs 2,646.3 crore in the year-ago period.

The consolidated revenue of Wipro dropped 1% YoY to ₹22,302 crore in Q2 FY25, from ₹22,543 crore in the corresponding period last year.

The IT company expects revenue from our IT Services business segment to be in the range of $2,607 million to $2,660 million in FY25.

The board of Wipro has also announced the issue of bonus shares in the ratio 1:1 for its shareholders. Record date for the said corporate action is yet to be determined.

Axis Securities expects Wipro to report 5.5 per cent YoY rise in net profit at Rs 3,028 crore for the September quarter on 1.6 per cent YoY drop in sales at Rs 22,460 crore.