Wipro Q1 Results Key Takeaways: PAT, revenue, Q2 guidance and more
Wipro
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. This translates to sequential guidance of (-)1.0% to +1.0 per cent in constant currency terms. Here below are the other key takeaways from the company's June quarter earnings.
Revenue in cc logged 1% sequential decline
Bengaluru-headquartered IT services major Wipro reported US dollar revenue at $2.63 billion during Q1. The company's revenue in CC terms declined 1 per cent QoQ, while on-year it declined 4.9 per cent. Zee Business desk estimated the dollar revenue to fall by 0.1 per cent QoQ.
Q1 net profit
The company posted a 4.6 per cent year-on-year rise in its consolidated net profit for the June quarter at Rs 3,003.2 crore. The desk estimated the IT company's net profit to log 3 per cent growth sequentially and come in at Rs 2,920 crore as against Rs 2,835 crore reported in the previous quarter.
IT services segment revenue
IT services segment revenue was at $2,625.9 million, a decrease of 1.2 per cent QoQ and decrease of 5.5 YoY. IT services operating margin for the quarter was at 16.5 per cent, an increase of 0.1 per cent QoQ and 0.4 per cent YoY. Zee Business desk estimated IT services operating margin to soar 0.7 per cent or 70 bps to 17.1 per cent from 16.4 per cent in Q4FY24.
Deal wins
Large deal bookings in the June quarter stood at $1.2 billion. These deals comprise deals greater than or equal to $30 million in total contract value.
Attrition
Voluntary trailing twelve months (TTM) attrition during the quarter remained steady QoQ at 14.1 per cent. It was 14.2 per cent in the previous quarter.
(With PTI inputs)