Wipro has declared its Q2 outcomes.
IT main Wipro on Wednesday, October 18, posted a 0.5 per cent fall in its internet revenue to Rs 2,646.3 crore for the second quarter ended September 30, in contrast with Rs 2,659 crore a 12 months in the past. Its income throughout July-September 2023 was down marginally to Rs 22,515.9 crore, towards Rs 22,539.7 crore within the 12 months-in the past interval.
On outlook, Wipro expects income from our IT companies enterprise phase to be within the vary of $2,617 million to $2,672 million. This interprets to sequential steerage of -3.5% to -1.5% in fixed foreign money phrases.
Wipro’s attrition charge continues to reasonable on a quarterly foundation, coming in at 9-quarter low of 13.4 per cent within the second quarter of 2023-24.
The firm’s working money flows at 145 per cent of internet revenue for the quarter was at Rs 3,860 crore.
Thierry Delaporte, CEO and managing director of Wipro, stated, “We continue to win in the market despite the uncertain macro environment. We ended the second quarter with 22 accounts above the $100 million range, which is double the number we had in FY21. Our large deal total contract value reached $1.3 billion, highest in the last nine quarters.”
Against a difficult surroundings, Wipro continues to take the daring choices wanted to understand its lengthy-time period ambitions. The firm is investing in its know-how infrastructure and streamlining its operations and supply to drive worthwhile progress, the CEO stated.
“We are training and reskilling its people so they can be ready for an AI-driven future. The investments we made in our ai360 strategy are helping us realise significant efficiencies across our organization and creating an early leadership position in this fast-evolving space. We are confident that these investments will keep us resilient and competitive in an ever shifting business and economic landscape,” Delaporte stated.
Aparna C Iyer, chief monetary officer of Wipro, stated, “We remain focused on profitable growth despite a challenging market. Our disciplined approach to improve efficiency, productivity and utilisation has led to an increase of 100 bps YoY in our IT services operating margins. Our absolute IT services segment EBIT grew 6 per cent YoY. We generated strong operating cash flow of 145 per cent of net income for the quarter.”
