IT major Wipro reported a net profit for the quarter ended in December 2018 stood at Rs 2,545  crores posting a nearly 32 per cent rise as compared to Rs 1,930 crores in the same period a year earlier.
Wipro reported its IT services revenue for the Q3 FY19 at Rs 14,665.6 crores, a rise of 2 per cent compared to revenue of Rs 14,377.3 crore posted during the previous quarter.
The earnings before interest and taxes stood at Rs 2,909.4 crores versus Rs 2,586.3 crores, registering 12.5 per cent quarter on the quarter surge. The IT services EBIT margin also rose from 18 per cent to 19.8 per cent posted during the said quarter.
Wipro in its regulatory filing also announced, “The Board of Directors of the Company at its meeting held on January 18, 2019, inter alia, has recommended the following for approval of the Members through Postal Ballot and e-voting:
Issue of bonus equity shares in the proportion of 1:3, that is 1 (One) bonus equity share of Rs. 2/- each for every 3 (Three) fully paid-up equity shares held and a bonus issue [stock dividend on American Depositary Share (ADS)] of 1 (One) ADS for every 3 (Three) ADS held, as on the record date, subject to approval of the Members of the Company.”
The statement added, “The record date for reckoning eligible shareholders (including ADS holders) entitled to receive bonus shares will be communicated later.”
The IT giant also announced an interim dividend of Re. 1 per equity share of par value Rs. 2 each and has fixed the record date for the dividend distribution on January 30, 2019.
Wipro informed that the payment of the interim dividend will be made on or before February 6, 2019. Wipro also Increased the authorized share capital of the Company from Rs. 1126.5 crores to Rs. 2526.5 crores by creating additional 700 crores equity shares of Rs. 2/-
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