IT major Wipro today reported a good set of Q1 earnings. Wipro’s Q1 net profit for the quarter rose 4.6% YoY to Rs 3,003 crore. The company’s revenue fell 3.8% YoY to Rs 21,964 crore. Almost all major companies have seen greenshots of revival in the April-June quarter.
Wipro’s Q1 EBITDA came in at Rs 3,625 crore, 1.8% higher than the previous quarter while its operating margin improved 47 bps QoQ to 16.5% in Q1FY25. For the upcoming quarter, the company said that they expect revenue from their IT Services business segment to be in the range of $2,600 million to $2,652 million. This translates to sequential guidance of (-) 1.0% to +1.0% in constant currency terms.
“We recorded another quarter of total large deal bookings over $1 bn, with our largest win in the recent years. Our top accounts continued to grow, accompanied by a growth in Americas1 SMU, BFSI and Consumer sectors. We are pleased with the momentum we have built in Q1 across industries and sectors and confident in our ability to execute better on bookings and profitable growth as we transition to Q2. While we continue to build on our ai360 strategy and preparing our workforce for an Al-first future,” said Srini Pallia, MD & CEO of Wipro.
