Wipro CEO says dollar revenue will grow 2-4% in the next three months

• Wipro announced seven major deal wins in the past 12 months in the more than $100 million category.
• The IT services major also suggested that it is steady on the path of $10 billion annual revenue run rate.
• Wipro also revealed that it now has the highest number of large clients yet.

Wipro’s management guidance for the March quarter is that the revenue from its IT services business to grow 2-4%. That’s better than the 1.9% growth clocked in the December quarter.

Since companies like Wipro, TCS, and Infosys export software, and earn in dollars, pounds or euros, they report growth in constant currency terms, which is adjusted for foreign exchange fluctuations.

Wipro ADRs (American Depository Receipts) were down by 1.5% as of 5:30 p.m., today (January 12).

In its exchange filing, Wipro CEO and Managing Director Thierry Delaporte said that the company added seven new customers, each bringing in revenues of over $100 million, in the past 12 months, the highest yet.

“We are also excited to have completed the acquisitions of Edgile and LeanSwift Solutions in the quarter, both of which will add to our capabilities significantly,” Delaporte added.


Source: Company reports, $ in constant currency terms

The Bengaluru-based IT company reported a 29.6% growth in its revenue, year-on-year, while IT services margin remained strong at 17.6%.

New large deals in the quarter – from healthcare to waste management and more

Wipro stated that it has signed new deals across various industries, including healthcare, waste management, manufacturing and more.

In its IT services segment, Wipro signed up clients across healthcare, manufacturing, retail brokerage, and hospitality sectors, all of which are US-based.

In its Digital services segment, the company signed up a Brazilian water and waste management company, apart from three other US-based clients to enhance their cloud security and digitisation programs.

The company’s board has also declared an interim dividend of ₹1 per share.

Omicron forces Wipro to close its offices globally for the next four weeks

The relentless surge of the Omicron variant of Covid-19 has forced Wipro to close its offices globally for the next four weeks.

The company CEO Delaporte stated that the return to offices would be re-calibrated based on the evolving situation of the pandemic.

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