Wipro Share: Announcement of Q3FY24 Results and Dividend

Wipro Share: Announcement of Third Quarter Results and Dividend

Wipro Share, the third-largest IT firm in India, has unveiled its results for the third quarter and also declared a dividend for its investors. In 2023, this stock has yielded a return of 16% to its investors.

About Wipro Ltd

The company was established in 1947 by Mohammed Premji along with his mates with the production of vegetable oil. However, the real impetus was given to this company by Azim Premji when IBM, a foreign company, was shown the exit in India in 1977. Then Azim Premji made the crucial decision to introduce his Wipro company into the IT sector and he was utterly successful in it. Because the company has expanded its operations in other countries including India. This company essentially provides services in the IT and software sector.

Stock Performance of Wipro in 2023

During the time of Corona, this stock had registered a significant bounce but after that, there has been a decline in this stock. Speaking about the year 2023, the stock has yielded a return of 16%. This year the company had hit a 52-week low level of 352 rupees, so this year the company had also made a 52-week high level of 483 rupees. The company has yielded a return of 0.8% in the last 3 years, a return of 16% in the last 1 year, and a return of 11% in the last 6 months.

Current Stock Performance of Wipro 

The current dividend yield of the company is recorded at 0.21%. Wipro Share company has a debt of 5,180.70 crores. The holding of the company's promoters is recorded at 72.93%. The company has a free amount of 4,527 crores. The total market cap of the company is 2,43,169.81 crores.

Wipro Q3 FY24 Third Quarter Results

The company has presented its results for the third quarter. There, the Wipro Share company has achieved a net profit of 2,022.90 crores on net sales of 16,315.70 crores. If we look at the second quarter of September 2023, then there the company had achieved a net profit of 2,061.30 crores on net sales of 16,680.70 crores. And if we also look at the previous year in December 2022, the company had achieved a net profit of 2,413.10 crores on net sales of 17,078.70 crores. Meaning the company has recorded a decline in the results presented at present.

Wipro Share Dividend News 2024

Wipro Share has made a significant announcement to its investors and declared a dividend of 1 rupee per share. Its ex-date has been set on January 24, 2024, and the record date has also been set on January 24, 2024. Before this, the company had given a dividend once in the year 2023, which was also kept at 1 rupee per share in January 2023.

Conclusion

Investing in stocks requires careful analysis of financial data to find out the company's true worth. This is generally done by examining the company's profit margins, return on equity and other factors. As we have seen, Wipro has shown a steady performance over the years. However, the recent results indicate a decline, which could be a point of concern for investors. The announcement of a dividend is a positive sign as it indicates the company's profitability. It's important to keep an eye on such announcements and results to make informed investment decisions.

Disclaimer

This blog post is for informational purposes only and should not be taken as investment advice. Financial investments carry risks. Therefore, you should do your research before making any investment decisions. Consult with a professional financial advisor if needed. Remember, all investments can result in the loss of your entire capital, so never invest money you cannot afford to lose.