Wipro posts 0.6% YoY IT services growth, bookings down 22.9%
Business
Wipro managed a tiny 0.6% year-on-year IT services revenue growth in constant currency this quarter, landing at $2.6 billion, even as bookings took a big hit, dropping 22.9% to a near four-year low.
The company is feeling the pressure from fewer new deals coming in.
Wipro large-deal bookings fall to $674 million
Large-deal bookings fell 58.6% sequentially to $674 million, mainly because of a specific client-related situation in Americas 1, along with an issue in healthcare.
Still, Wipro CEO Srini Pallia sounds hopeful for next quarter, saying he expects delayed deals to finally close: Wipro CEO Srini Pallia expressed confidence in its pipeline and deal momentum.