Wipro profit slips 1.4% to ₹3,201 cr as bookings fall
Wipro's net profit slipped by 1.4% this quarter to ₹3,201 crore, amid a sharp contraction in large deal bookings and flat constant-currency revenue growth.
Overall project bookings also fell 22.9% sequentially in constant currency terms, signaling a tougher market for new business.
Wipro revenue ₹24,752.7 cr margin 16.5%
On the bright side, revenue was up 9.1% from last year at ₹24,752.7 crore, though it dipped slightly compared to last quarter.
Operating margin improved a bit to 16.5%.
Wipro's CFO Aparna Iyer highlighted strong cash flow this quarter.
Meanwhile, CEO and managing director Srini Pallia said the company is betting on AI and making strategic moves to grow, though they did cut 6,716 jobs to match demand.
Looking ahead, Wipro expects IT services revenue between $2.571 billion and $2.625 billion next quarter.