Wipro Q1 Results Highlights Profit Revenue, and Q2 Outlook

Wipro Q1 results: Bengaluru-headquartered IT solutions provider Wipro released its Q1 earnings on Friday (July 19). For Q2FY25, the company expects revenue from its IT Services business segment to be in the range of $2,600 million to $2,652 million, translating to sequential guidance of (-)1.0% to +1.0% in constant currency terms. Here are the key takeaways from the company’s June quarter earnings:

Wipro Q1 Results Highlights Profit Revenue

Revenue in CC Terms

• Wipro reported US dollar revenue of $2.63 billion for Q1. The company’s revenue in constant currency (CC) terms declined by 1% QoQ and 4.9% YoY. The stock 24 news desk had estimated a 0.1% QoQ decline in dollar revenue.

Q1 Net Profit

• Wipro posted a 4.6% year-on-year rise in its consolidated net profit for the June quarter, amounting to Rs 3,003.2 crore. The stock 24 news desk estimated a sequential net profit growth of 3%, projecting Rs 2,920 crore compared to Rs 2,835 crore in the previous quarter.

IT Services Segment Revenue

• The IT services segment revenue stood at $2,625.9 million, marking a decrease of 1.2% QoQ and 5.5% YoY. The IT services operating margin for the quarter was 16.5%, reflecting an increase of 0.1% QoQ and 0.4% YoY. The stock 24 news desk had projected the operating margin to rise by 0.7%, or 70 basis points, to 17.1% from 16.4% in Q4FY24.

Deal Wins, Wipro Q1 Results Highlights Profit Revenue

• Large deal bookings for the June quarter amounted to $1.2 billion, comprising deals with a total contract value of $30 million or more.

Attrition

• Voluntary trailing twelve months (TTM) attrition during the quarter remained steady at 14.1% QoQ, compared to 14.2% in the previous quarter.

(With PTI inputs)

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