Wipro’s Q1 FY2025 Financial Results: Key Highlights and Strategic Insights

On July 19, 2024, Wipro Limited, a top technology services and consulting firm, shared its financial results for the quarter ending June 30, 2024.

Highlights of the Results for the Quarter ended June 30, 2024

Gross revenue stood at ₹219.6 billion ($2,635.8 million), marking a 1.1% decrease from the previous quarter and a 3.8% decline from the same quarter last year. The IT services segment generated $2,625.9 million, reflecting a 1.2% decrease quarter-over-quarter and a 5.5% decrease year-over-year.

The IT services segment revenue fell by 1.0% QoQ and 4.9% YoY in constant currency. Total bookings reached $3,284 million, with large deal bookings at $1,154 million, showing declines of 3.1% QoQ and 3.6% YoY. The IT services operating margin for the quarter was 16.5%, a slight increase of 0.1% QoQ and 0.4% YoY.

Net income rose to ₹30.0 billion ($360.4 million), up 5.9% QoQ and 4.6% YoY. Earnings per share increased to ₹5.75 ($0.07), reflecting a 5.9% rise QoQ and 9.9% YoY. Operating cash flows were ₹40.0 billion ($479.0 million), a 6.5% increase YoY, amounting to 131.6% of net income for the quarter. Voluntary attrition over the past 12 months was 14.1%.

Srini Pallia, CEO and Managing Director, said, “We recorded another quarter of total large deal bookings over $1 bn, with our largest win in 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 prepare our workforce for an AI-first future.”

About Wipro Limited

Wipro Limited is a top technology services and consulting company dedicated to creating innovative solutions for clients’ toughest digital transformation challenges. Utilising a comprehensive range of consulting, design, engineering, and operations skills, Wipro assists clients in achieving their most ambitious goals and building sustainable, future-ready businesses.

On July 19, 2024, Wipro Limited’s share price opened at ₹579.90 and closed at ₹554.70 on the NSE.

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