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Wipro's Q2 FY24-25 results highlight a 21.3% growth in net income, driven by strong large deal bookings and operational efficiency. The company reported a 1.5% revenue increase QoQ and improved its operating margin by 35 basis points.
In Q2 FY24-25, Wipro delivered a strong financial performance with notable improvements across key metrics. The company recorded a 21.3% year-on-year (Y-o-Y) growth in net income, coupled with significant large deal bookings and steady operational efficiency.
Wipro's strong financials this quarter reflect its operational resilience and commitment to driving growth through strategic large deals.
Wipro's gross revenue for Q2 FY24-25 stood at ₹223.0 billion, a 1.5% QoQ increase, though it marked a slight decline of 1.0% Y-o-Y. The company's consolidated net income was ₹32.1 billion, up 6.8% QoQ and 21.3% Y-o-Y, driven by solid operational improvements.
The company’s IT Services revenue for Q2 FY24-25 reached $2.66 billion, with a 1.3% QoQ growth. Notably, the company secured large deal bookings worth $1.5 billion, reflecting a 16.8% Y-o-Y increase.
Segment Highlights
Wipro’s strategic focus on large deals, particularly in the Americas, has contributed significantly to the company's revenue.
Wipro's Q2 results exceeded expectations, particularly with the company's strong operational performance and robust deal wins. The company’s operating margin improved by 35 basis points to 16.8%, and the large deal bookings further emphasized Wipro's continued focus on growth across key markets. These results aligned with sector expectations, with Wipro continuing to maintain a competitive edge in the IT services landscape.
Srini Pallia, CEO and MD of Wipro expressed satisfaction with the company’s performance in Q2, “Based on strong execution in Q2, we met our expectations for revenue growth, bookings, and margins. We continued to expand our top accounts, large deal bookings surpassed $1 Bn once again, and Capco maintained its momentum for another consecutive quarter. We grew in three out of four markets, as well as, in BFSI, Consumer and Technology and Communications sectors. We will continue to invest in our clients, our strategic priorities, and building a strong AI-powered Wipro.”
Particulars | Q2 FY24-25 (₹ in Cr) | Q2 FY23-24 (₹ in Cr) | Y-o-Y Growth (%) |
Gross Revenue | 22,300 | 22,515 | -1.00% |
Profit for the Period | 3,210 | 2,650 | 21.30% |
Operating Margin (%) | 16.80% | 16.10% | 70 bps |
Operating Cash Flow | 4,270 | 3,861 | 10.50% |
Earnings Per Share (₹) | 6.14 | 5.06 | 21.30% |
Wipro’s Q2 FY24-25 results emphasize the company’s ability to secure large strategic deals and deliver consistent growth in net income, with a 21.3% Y-o-Y increase. The company's strong operational performance and focus on expanding into new markets position it well for continued success in the coming quarters. With steady improvements in operating margins and a robust cash flow, Wipro remains a formidable player in the global IT services industry.
Check out Wipro's past performances in previous quarters and financial years.
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