Wipro Limited has launched a wholly-owned subsidiary in the US. Wipro has launched Wipro Life Science Solutions LLC. The aim of this company is to explore new business opportunities in the life sciences sector by providing pharma services after approval. On Friday, the company gave all this information in the exchange filing.

"Wipro Life Science Solutions, LLC has been incorporated as a step-down subsidiary of Wipro Limited with effect from October 10, 2024," the company said in the filing. The IT firm reported a 6.2% rise in its net profit and earnings to Rs 3,227 crore for the quarter ended September 30, 2024. Wipro's earnings grew 1.5% to Rs 22,302 crore during the second quarter. On October 17, the company proposed to issue bonus shares in the ratio of 1:1, which means eligible shareholders will receive one additional equity share for every fully paid up share they hold. The record date for this bonus issue has not been announced yet. The company's board of directors will officially consider the proposal in its upcoming meeting to be held on Sunday.

How were the company's results? Wipro Limited has announced its second quarter results for the September quarter on October 17. The company has announced the exchange filing. In the quarter, it reported a net profit of Rs 3,209 crore, which is 21 per cent higher than the previous quarter. Apart from this, the IT major has also announced the issuance of bonus shares in the ratio of 1:1. The company's consolidated earnings declined by 1 per cent to Rs 22,302 crore in the July-September quarter. This income was Rs 22,543 crore in the same period a year ago. Earnings are expected to increase to Rs 22,219 crore in the next quarter due to an increase in new deals. Ahead of the announcement of results, Wipro shares closed 0.65 per cent lower at Rs 528.7 on NSE on October 17, while the benchmark Nifty 50 fell 0.9 per cent for the day.