The country’s fourth-largest IT company Wipro on Friday reported a sequential increase both on the revenue and profit front in the quarter ended in December on the back of improved demand in the US market and the banking, financial services, and insurance (BFSI) vertical. The numbers were also was above Bloomberg consensus estimate.
Consolidated revenue rose 0.1% quarter-on-quarter to Rs 22,318.80 crore. This was above Bloomberg estimate of Rs 22,221 crore. Net profit rose 4.5% to Rs 3,353.8 crore, which was also above estimates of Rs 3,060 crore.
The company also revised its revenue growth guidance for Q4 at (-) 1% to 1%. This is higher than (-) 2% to + 0% guided for Q3.
Also Read L&T Tech posts Q3 profit decline of 4.10% YoY to Rs 322.40 crore, revenue rises by 9.55% Tata Elxsi Q3 Results: Profit drops by 3.59% to Rs 199.01 crore, revenue up 2.73% YoY The first after listing: MobiKwik slips into loss of Rs 3.59 crore in Q2FY25, payments GMV up by 267.3% YoY Mswipe cuts losses marginally on flat revenue growth in FY24 Also ReadRIL’s O2C segment to pick up in FY26, say brokerages
“We are more hopeful and resilient for 2025. Our clients are cautiously optimistic, and we see discretionary spending slowly coming back. While cost optimisation continues to remain, we also see significant opportunities in AI spending,” Srini Pallia, chief executive officer and managing director of the company said in the post earnings press conference.
The company also managed to expand its operating margin, also known as earnings before interest and tax (Ebit), by 70 basis points quarter-on-quarter to 17.5%.
Aparna Iyer, chief financial officer of the company, said: “As far as margin are concerned, this is after absorbing two months of salary increase, and a part of the margin improvement has come from operational improvement that’s driven, both in our core business and in the consulting businesses”.
The Bengaluru-headquarterd company said it won large deals worth nearly $1 billion during the December quarter, and its total deal wins for the quarter stood at $3.51 billion. Wipro considers any deal bookings that are greater than or equal to $30 million in total contract value terms as large deals.
“We are seeing momentum in the smaller and medium-sized deals.
» Read More
