Saurabh Govil’s Post

Happy to share some of the key highlights from our Quarterly results announced yesterday (Quarter ended Sep 30): - Large Deal Bookings of $1.5 billion, the highest in last 10 quarters. - Net income grew 6.8% QoQ and 21.3% YoY. - IT Services revenue grew 1.3% QoQ. Margin expands 35 basis points QoQ. - Operating cash flows are at 132.3% of net income. - BFSI, Consumer, Technology & Communications sectors saw upswing - Strong investments into “AI Powered Wipro” continue - Board of Directors recommended the issue of 1:1 bonus shares We are very optimistic about the future, as we continue our steadfast focus on our 5 strategic priorities: 1.       Investing in and Building large accounts and future large accounts in profitable markets and prioritized sectors, 2.       Shaping and winning large deals, 3.       Differentiating with Fields of Play, which are consulting led, AI-powered industry/cross-industry solutions, 4.       Building talent at scale, and 5.       Client centricity https://lnkd.in/d5evMJSz

On Monday morning, Wipro shares experienced the largest decline over four years as investors penalized India’s fourth-largest IT services company for subpar growth Despite its competitors’ discussions of a resurgence in client spending and their robust results. The Nifty IT index was down 0.3% due to the company’s shares declining by approximately 8% as of […] #Tech #India #Q1Result

Wipro’s growth lags peers, co cautious about recovery Full Article Link >>> https://lnkd.in/ggYY2cKV BENGALURU: It’s an uphill task for the hiker. Wipro ‘s new CEO , Srini Pallia, faces significant challenges as the company’s performance lags behind its peers across various financial metrics. Despite this, Wipro’s shares rose 3% in early trading on the NYSE, reflecting a realistic growth forecast in a volatile demand environment.In the March quarter, […] . . Latest IND . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews

Wipro’s growth lags peers, co cautious about recovery Full Article Link >>> https://lnkd.in/grPvi5fE BENGALURU: It’s an uphill task for the hiker. Wipro ‘s new CEO , Srini Pallia, faces significant challenges as the company’s performance lags behind its peers across various financial metrics. Despite this, Wipro’s shares rose 3% in early trading on the NYSE, reflecting a realistic growth forecast in a volatile demand environment.In the March quarter, […] . . Latest IND . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews

Wipro's Q1 FY24 results show steady profit growth despite a revenue dip. 📊 Wipro's Q1 FY24 earnings reveal a consolidated net profit of ₹3,003 crore, up 4.6% YoY from ₹2,870 crore. The remarkable surge in profitability exceeds Street projections of ₹2,993 crore. Revenue from operations fell 4% to ₹21,964 crore from ₹22,831 crore in the same period previous year. This amount dropped below the estimated ₹22,258 crore. Key highlights: 1)IT Services Revenue: $2,625.9 million, down 1.2% QoQ and 5.5% year on year. 2)Total bookings were $3,284 million, with major deal bookings of $1,154 million, down 3.1% quarter on quarter and 3.6% year on year. 3)Operating Margin: The IT services operating margin improved to 16.5%, up 0.1% quarterly and 0.4% year on year. Guidance for Q2 FY 24: Revenue from the IT services business sector is expected to be between $2,600 million and $2,652 million, representing a sequential growth rate of (-)1.0% to +1.0% in constant currency terms. Despite sales issues, Wipro continues to show resilience, with excellent profit growth and a promising forecast for the following quarter.

Wipro bags a $500-million contract from US firm under new CEO 🤝 🖥 Indian IT major Wipro has secured a $500-million contract with a leading US communication service provider. This five-year deal represents the first major win under the leadership of new CEO Srini Pallia, signaling Wipro’s resurgence after falling behind its competitors. Wipro's stock surged by 5% on the news, reflecting market confidence in this significant achievement. According to an exchange filing, Wipro will deliver managed services for select products and industry-specific solutions, although further details have yet to be disclosed. CEO Srini Pallia, since taking over, has emphasized large deal growth as a core strategy. During the Q4 results announcement, Pallia stated, “We will focus on revitalizing the company by accelerating large deal growth, working closely with clients and partners, and strengthening relationships with large clients. We will also invest in accounts with the potential to grow into substantial partnerships.” In Q4FY24, Wipro’s total bookings stood at $3.6 billion, slightly down from $3.8 billion in the previous quarter. However, large deal bookings increased significantly to $1.2 billion, $0.9 billion higher than the quarter before. IT analyst Pareekh Jain, CEO at Pareekh Consulting and EIIRTrend, commented, “Wipro securing a large deal after a long hiatus is a positive sign for the new CEO. Large deals are crucial for growth, and this $500 million deal sets a positive momentum. It’s encouraging to see Wipro regain its momentum." #wipro #tcshiring #tcscareers #infosys #staffing #itcareers #ithiring

Let's decode the financial triumphs and strategic initiatives in Wipro's latest annual report: • Reported revenue of $10.8 billion for FY24, with a net income of $1.3 billion and an IT services operating margin of 16.1%. • Operating cash flow for FY24 increased by 34.9% YoY to $2.1 billion, with a significant increase in large deals closed. • The company focused on cost takeout, operational excellence and sustainability, while also investing in CSR activities. Stay updated with the latest market insights and analysis from Needl.ai. Check out the AI-generated summary of the BSE annual report: https://lnkd.in/gbmnbg7V For the full report, click here:  https://lnkd.in/gF4MKDZa #Needlai #Wipro #FinancialHealth #Innovation #Growth #Income #Revenue #CSR #FinancialAnalysis #AIAnalytics #AnnualReports #BSE #StockMarket #AIsummarization #FY24

Bengaluru: IT major Wipro on Friday 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 Q1 FY25 revenue of the Bengaluru-headquartered firm, however, fell 3.8 per cent to Rs 21,963.8 crore. The company said it expects revenue from the IT Services business segment to be in the range of $2,600 million to $2,652 million, in the September quarter. “This translates to sequential guidance of (-) 1.0 per cent to +1.0 per cent in constant currency terms,” it said. Check out here for full story : https://lnkd.in/gYRnPkca #Wipro #EarningsReport #ITServices #RevenueUpdate #QuarterlyResults #ProfitGrowth #FinancialUpdate #TechIndustry #BusinessNews #bizzbuzz #bizzbuzznews

Wipro lags peers, revenue down nearly 5% in June quarter Full Article Link >>> https://lnkd.in/gQZFFAe3 Welcome To Latest IND >> Fastest World News BENGALURU: Wipro shares tanked 13% on the NYSE after its revenue declined by 4.9% in the June quarter compared to the year-ago period. Sequentially, its revenue dropped by 1% in constant currency. Wipro’s numbers are lacklustre compared to its peers – TCS and Infosys – and are […] . . Latest IND . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews

Wipro lags peers, revenue down nearly 5% in June quarter Full Article Link >>> https://lnkd.in/gsAUcUF6 Welcome To Latest IND >> Fastest World News BENGALURU: Wipro shares tanked 13% on the NYSE after its revenue declined by 4.9% in the June quarter compared to the year-ago period. Sequentially, its revenue dropped by 1% in constant currency. Wipro’s numbers are lacklustre compared to its peers – TCS and Infosys – and are […] . . Latest IND . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews