Shares of this IT company surged today after financial result of Q1FY24!

The company has delivered an impressive approximate 90 per cent return over the past five years.

Today shares of IT companies helped the Sensex close above the Rs 66,000 mark for the first time. Major IT companies such as TCS, Tech Mahindra, HCL Technologies, Infosys and Wipro closed in the green and were among the highest gainers.

Yesterday Wipro Ltd declared its financial results for the first quarter ending FY24. Today the company's shares opened at Rs 394.35 and closed at Rs 404.95, up by 2.69 per cent. Currently, the company is trading near its 52-week high of Rs 444.65 which was reached on August 17, 2022. It has a 52-week low of Rs 351.85.

Speaking about the financials in Q1FY24, on a standalone basis the company's net revenue grew by 7. Per cent YoY to Rs 17,944.9 crore from Rs 16,645.3 crore in the corresponding quarter last year. On a sequential basis net revenue declined by 2.12 per cent from Rs 18,333.9 crore. The profit after tax (PAT) increased by 16.75 per cent YoY to Rs 2,587.8 crore from Rs 2,216.6 crore in the corresponding quarter last year. On a sequential basis, the company showed a growth in net profit by 14.30 per cent from Rs 2,264.1 crore.

On a consolidated basis, the company's net revenue grew by 6.72 per cent YoY to Rs 23,479 crore from Rs 22,001 crore in the corresponding quarter last year. On a sequential basis, net revenue declined by 1.50 per cent from Rs 23,835.6 crore. The profit after tax (PAT) increased by 12.78 per cent YoY to Rs 2,886 crore from Rs 2,558.9 crore in the corresponding quarter last year. On a sequential basis, the company showed a decline in net profit by 6.71 per cent from Rs 3,093.5 crore.

Wipro Ltd is a global information technology, consulting, and business process services (BPS) company. It has a market capitalization of around Rs 2,22,270 crore. The company has delivered a 90.74 per cent return over the past five years.